Local News Update: Sri Lanka enables voluntary re-registration, the Department of Inland Revenue said, for companies that have been removed from the value added tax net. VAT is useful for production credit and efficient exporters.
“Any person wishing to continue the VAT registration (whose registration is inactivated) should request that the registration be activated by the Commissioner, the Customer Information Update Unit of the headquarters of Inland Revenue or any nearest Regional Office,” the IRD stated in a public notice.
“Anyone wishing to obtain a new VAT registration may apply to the Commissioner Tax Registration Unit or any nearest Regional Office in the form defined along with the required documents.” The IRD claimed that the Ministry of Finance had requested the agency to enable re-registration.
Whether deactivating VAT or re-registering the relevant legislation had not yet been passed in parliament.