- Inland Revenue Department (IRD) urges public to report businesses charging VAT without being VAT-registered
- VAT-registered businesses must display their VAT registration number during transactions
- Complaints can be made directly to the IRD Commissioner General
- IRD raided a business entity in Colombo city and seized documents and computers
- Separate audit inquiry launched to determine if the entity maintained VAT files and paid relevant taxes
- Legal action and penalties can be initiated if the entity is found to be non-VAT registered
- Department can also launch an assessment to recover funds levied by the entity.
Source: newswire.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.
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