- 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.
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.