- The Inland Revenue Department (IRD) is cracking down on businesses charging VAT without being VAT-registered.
- Customers affected by unlawful practices can complain directly to the IRD Commissioner General.
- IRD officials raided a business entity in Colombo after a customer complaint and seized documents and computers.
- Police assistance was required to enter the premises of the business entity.
- A separate audit inquiry has been launched to determine if the entity maintained VAT files and paid relevant taxes.
- Legal action and penalties can be initiated against non-VAT registered entities.
- Individuals who were wrongfully charged with VAT can send relevant details to the IRD Commissioner General for action.
Source: sundaytimes.lk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Sri Lanka"
- Why Sri Lanka’s Digital VAT Won’t Trigger US Tariffs: Understanding Digital Taxation Differences
- Sri Lanka Mandates VAT Registration for Non-Resident Digital Service Providers Starting October 2025
- Sri Lanka Updates VAT and SVAT Regimes: Key Changes Effective July and October 2023
- Sri Lanka Accelerates Tax Digitalization as Part of 2030 Digital Economy Vision
- President Directs Digitalisation of Inland Revenue Department to Meet 2030 Economic Goals
