📈 Budget 2026 Proposal: VAT & SSCL Registration Threshold Reduced

The Finance Minister has proposed a significant reduction in the annual turnover threshold for mandatory tax registration in the upcoming Budget 2026. • Objective: Broadening the national tax base. • Taxes Affected: Value Added Tax (VAT) and the Social Security Contribution Levy (SSCL). • Threshold Change: The annual turnover requirement for registration is proposed to be lowered from the current Rs. 60 million to Rs. 36 million. • Effective Date: This change is scheduled to take effect from April 01, 2026.