IRD Notice on Tax proposals announced in the Budget – 2021

The Commissioner General of Inland Revenue has published a notice pertaining to changes proposed in the Budget 2021 to the Inland Revenue Act, No. 24 of 2017. These changes mainly relate to the following:

  1. Exemptions from Income Tax
  2. Tax rate changes
  3. Tax computation, deductions and qualifying payments
  4. Tax administrative measures
  5. Other proposals
  6. Tax relief measures to facilitate post Covid-19 economic recovery

The law pertaining to the above is yet to be enacted.

Download IRD Notice: PN/IT/2021-01 | Dated: 13.01.2021

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