Sri Lanka, June 22 -- Every service provider and trading establishment with a daily turnover exceeding Rs. 100,000 must register for Value Added Tax (VAT) and the Social Security Contribution Levy (SSCL) effective from July 1, according to Senior Deputy Commissioner of Inland Revenue for the Nuwara Eliya District, E.D. Karunaratne.



He made these remarks while participating in an awareness workshop organized for business owners and service providers in the Nuwara Eliya District.



Karunaratne stated that the annual turnover threshold, which was previously set at Rs. 60 million, has now been reduced to Rs. 36 million.



Accordingly, service providers, wholesale and retail traders, and manufacturing businesses with a taxable annual...