SLFP proposes 2 m monthly threshold to pay VAT
By Chamodi Gunawardana
The special committee on Valued Added Tax revision, consisting of ministers from the Sri Lanka Freedom Party (SLFP), has recommended that the monthly VAT threshold be increased from Rs. 1 million to Rs. 2 million.
If the recommendation is implemented, all businesses that earn Rs. 2 million or more per month will need to register to pay VAT.
Speaking at the SLFP weekly media briefing, Special Assignments Minister Dr