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Monthly Archives: October 2019

New changes to Finance Act

Finance Bill was passed in Parliament on 23 October 2019 which is yet to be certified by the Hon. Speaker. 1.Luxury Tax on Motor Vehicles The Finance Act, No. 35 of 2018 provided for the imposition of a Luxury Tax on

New amendments to NBT Law

NBT Bill was passed in Parliament on 23 October 2019 which is yet to be certified by the Hon. Speaker. 1.New Exemptions 1.1 Importation of any project related article by a BOI enterprise Importation of any project related article by an

New amendments to VAT Law

VAT Bill was passed in Parliament on 23 October 2019 which is yet to be certified by the Hon. Speaker 1.Supply of residential accommodation Effective from April 1, 2019, the supply of condominium housing is liable to VAT unless exempted. Exemptions

Cabinet Decision taken on certain Taxes on 2019-10-15

Betting and Gaming Levy (Amendment) Bill – The proposal made by the Minister of Finance to publish the draft (Amendment) Bill for the amendment of the Betting and Gaming Levy Act, No.40 of 1988 prepared by the Legal Draftsman in

NBT Return submission due date extended

Submission of Nation Building Tax (NBT) Return has been allowed up to 25 October 2019 and the same would be considered as duly submitted. IRD Notice

Income Tax Guide (Partnerships) – Year of Assessment 2018/2019

Department of Inland Revenue has published Guide to Partnerships Tax Return of Income – Year of Assessment 2018/2019. Download English Guide