Government drops plan to lower VAT and SSCL threshold

The proposal to reduce the annual turnover threshold for Value Added Tax and Social Security Contribution Levy from Rs. 60 million to Rs. 36 million, which was proposed in this budget to be implemented from the upcoming 1st of July, will not be implemented.

Deputy Minister of Economic Development Nishantha Jayaweera stated this while addressing the parliamentary session held today (23).