POS machine data sought to tax businesses

Using point-of-sale (POS) machine data for taxing businesses was discussed at a meeting between Sri Lanka President Anura Kumara Dissanayake and revenue officers, his office said.

“To reduce tax irregularities, to simplify taxation and to raise transparency, introducing POS machines was discussed at the meeting,” a statement from the President’s media office said.

“This step will expand the tax base and make it easier to pay taxes.”

POS machines can directly capture the sales revenue of a business.