Harsha welcomes decision to retain VAT threshold at Rs. 60 million

Harsha welcomes decision to retain VAT threshold at Rs. 60 million

Harsha welcomes decision to retain VAT threshold at Rs. 60 million

EXPLAINER: Sri Lanka govt shelves VAT threshold reduction on political, economic U-turn

Govt. retains Rs. 60 Mn VAT threshold, drops planned reduction

The government has decided to retain the current Rs. 60 million annual turnover threshold for Value Added Tax (VAT) and the Social Security Contribution Levy (SSCL), postponing a previously proposed reduction to Rs. 36 million that was scheduled to take effect from July 1.

ANALYSIS: Sri Lanka’s government pauses VAT threshold cut amid significant political and economic shifts.

FINANCIAL CHRONICLE – In a significant shift in policy, the National People’s Power (NPP) government of Sri Lanka, under the leadership of President Anura Kumara […] The post ANALYSIS: Sri Lanka’s government pauses VAT threshold cut amid significant political and economic shifts. appeared first on FINANCIAL CHRONICLE.

Small Businesses Brace for Impact of VAT Expansion - LNW Lanka News Web

While the Government presents Sri Lanka’s proposed VAT reforms as a necessary step toward fiscal sustainability, many lawmakers and business operators fear the changes could impose significant compliance costs on smaller enterprises already navigating a difficult economic environment. The proposed reduction of the VAT registration threshold from Rs. 60 million to Rs. 36 million annually is expected to capture thousands of businesses previously o…

Govt. retreats on VAT threshold cut

The Government yesterday withdrew plans to lower the Value Added Tax (VAT) registration and Social Security Contribution Levy (SSCL) thresholds, sparing thousands of small and medium-sized enterprises from being brought into the tax net at a time when businesses are grappling with the economic consequences of Cyclone Ditwah and the conflict in the Middle East. Opening the second reading debate on the Value Added Tax (Amendment) Bill and other ch