Sri Lanka's Inland Revenue Department has issued a notice announcing that effective 1 November 2016, the value added tax (VAT) registration threshold has been reduced LKR 12.5 million per quarter for retail and trade sectors and to LKR 3 million per quarter for all other sectors. The registration threshold for Nation Building Tax (NBT) is also reduced to LKR 3 million per quarter.
Click the following link for the notice.