![VAT & SVAT Registration requirements for Tea, Rubber, and Coconut Suppliers – SEC/2024/E/01 [04 Jan 2023]](https://lankataxclub.lk/wp-content/uploads/2024/02/Can-Tea-Rubber-and-Coconut-Suppliers-get-SVAT.jpg)
![VAT & SVAT Registration requirements for Tea, Rubber, and Coconut Suppliers – SEC/2024/E/01 [04 Jan 2023]](https://lankataxclub.lk/wp-content/uploads/2024/02/Can-Tea-Rubber-and-Coconut-Suppliers-get-SVAT.jpg)
VAT & SVAT Registration requirements for Tea, Rubber, and Coconut Suppliers – SEC/2024/E/01 [04 Jan 2023]
The circular, identified as Circular No. SEC/2024/E/01 and dated January 4, 2023, addresses suppliers involved in the production of tea, rubber, and coconut products. The primary focus of the circular is on the registration process under the Value Added Tax (VAT) and the Simplified Value Added Tax Scheme. The circular outlines the specific industries that…
![Is it necessary for individuals who are not residents to obtain a Taxpayer Identification Number (TIN)?](https://lankataxclub.lk/wp-content/uploads/2024/02/Should-Non-Resident-have-a-TIN.jpg)
Is it necessary for individuals who are not residents to obtain a Taxpayer Identification Number (TIN)?
In terms of section 102(1) of Inland Revenue Act, No. 24 of 2017 (IRA), every person chargeable with Income Tax shall obtain the registration with the Commissioner General of Inland Revenue (CGIR). Further to that, in terms of the section 102(3) of IRA, the Extraordinary Gazette Notification bearing No 2334/21 dated 31/05/2023 issued specifies additional…
![VAT on Financial Services](https://lankataxclub.lk/wp-content/uploads/2024/01/VAT-on-FS.jpg)
![How to get a TIN Certificate | | How to determine Residency](https://lankataxclub.lk/wp-content/uploads/2024/01/Get-YOUR-TIN.png)
How to get a TIN Certificate | | How to determine Residency
How to get a TIN Certificate Online: IRD Link to register as a Taxpayer and obtain your TIN By Visit or Post: This form (Name A below) is to be submitted along with supporting documents to the Primary Registration Unit at the IRD head office or any of the Metro Branches or Regional Offices. If…
![Is it mandatory to register with the Inland Revenue Department and obtain a Tax File Number (TIN)](https://lankataxclub.lk/wp-content/uploads/2024/01/Is-it-Mandatory-to-obtain-a-Tax-File-Number.jpg)
Is it mandatory to register with the Inland Revenue Department and obtain a Tax File Number (TIN)
With effect from January 01, 2024, any individual who is at the age 18 years or more, or who attains the age of 18 years on or after January 01, 2024, it is mandatory to register with the Inland Revenue Department and obtain a TIN (Taxpayer Identification Number). Furthermore, any person who receives an income…
![Application Form for Temporary VAT Registration](https://lankataxclub.lk/wp-content/uploads/2024/01/Temporary-VAT-Registration.jpg)
Application Form for Temporary VAT Registration
Note: This form to be submitted along with supporting documents (If any) to the Help Desk at the nearest IRD branch.
![Income Tax Liability of a Resident Company for the Y/A 2022/2023 | Kokila Mudugamuwa](https://lankataxclub.lk/wp-content/uploads/2023/12/Tax.jpg)
![Amendment to VAT Act | Removal of VAT Exemptions](https://lankataxclub.lk/wp-content/uploads/2023/12/VAT-1.jpg)
Amendment to VAT Act | Removal of VAT Exemptions
The Bill to amend the VAT Act was published on August 11, 2023, and the EY Tax Alert dated September 11, 2023, highlighted the proposed changes based on this Bill. Subsequently, during its passage through Parliament, a few significant changes were made, and the Bill was finally passed in Parliament on December 11, 2023, with…
![Tax Summary of Budget 2024](https://lankataxclub.lk/wp-content/uploads/2023/11/Tax-Summary-on-Budget-2024.jpg)
Tax Summary of Budget 2024
1. Income Tax (Amendments to the Inland Revenue Act, No. 24 of 2017 1.1 Tax Payable by Withholding (a) A special tax return requirement will be introduced for the deduction of 2.5% withholding tax levied on the sale price of any gem sold at an auction conducted by the National Gems and Jewellery Authority. Exemption…
![Consolidated Inland Revenue Act up to 2023](https://lankataxclub.lk/wp-content/uploads/2023/11/Consolidated-Inland-Revenue-Act-up-to-2023.jpg)
![Tax Webinar: How to calculate your tax liability if you have Salary + Interest – YA 2022/2023](https://lankataxclub.lk/wp-content/uploads/2023/10/Tax-Webinar.jpg)
Tax Webinar: How to calculate your tax liability if you have Salary + Interest – YA 2022/2023
ඔයාට තියෙන්නේ Salary විතරද? එහෙම නැත්නම් Salary සහ පොළී අදායම විතරද? එහෙනම් තනියෙම ඔයාගේ Tax එක හදමුද? 📌 Registration Link: https://forms.gle/2GwBYEpNAsZtUH8U8 📌 Date & Time: 22 October 2023 at 8:00PM onwards 📌 Investment: LKR 500/- (50% Discount for first 100 registrations) 📌 Limited Zoom seats are available! 📌 Hurry Up! Register Soon!
![IRD Notice: Reimbursement of Value Added Tax (VAT) to the Purchasers of Agricultural Tractors](https://lankataxclub.lk/wp-content/uploads/2023/10/VAT-Refund-for-Agricultural-Tractors.jpg)
IRD Notice: Reimbursement of Value Added Tax (VAT) to the Purchasers of Agricultural Tractors
The attached notice is from the Inland Revenue Department of Sri Lanka (IRD) regarding the reimbursement of Value Added Tax (VAT) to the purchasers of agricultural tractors. The notice states that the importation of agricultural tractors was exempted from VAT with effect from January 1, 2015, but that VAT was charged on agricultural tractors imported…