Finance Minister Mr. Mangala Samaraweera has posted a message on his Twitter account regarding tax concessions to strengthen the Tourism Industry affected by the Easter Sunday Attacks.
New Gazette has been published to amend Ports and Airports Development Levy (PAL) w.e.f. December 06, 2019. Download Gazette on PAL changes
As per the Extraordinary Gazette Notification No. 2151/52 dated November 29, 2019, published under section 2A of the Value Added Tax Act No. 14 of 2002, VAT rate has been revised with effect from December 01, 2019 as set out below. supply of services by a hotel, guest house, restaurant or other similar businesses providing…
Department of Inland Revenue has published Pay As You Earn (PAYE) Tax Calculator for Year of Assessment 2018/2019 which can be used for PAYE tax annual declaration purpose. Download PAYE Tax Calculator_1819_V1_E.
Department of Inland Revenue has published an updated list of VAT Registration inactivated persons as at 21.05.2020. Download List: PDF | Excel
Department of Inland Revenue has published Guide to Individuals Tax Return of Income – Year of Assessment 2018/2019. Download English Guide Download Sinhala Guide
Department of Inland Revenue has published a new Application Form for Tax Clearance (Outward Remittances). Download Application Form for Tax Clearance (Outward Remittances)
Committee on Interpretations under Inland Revenue Act No.24 of 2017 As stipulated in section 107 of the Inland Revenue Act, No. 24 of 2017 (Act), taxpayers may apply to the Commissioner General of Inland Revenue (CGIR) for a private ruling regarding the application of the Act. Thereunder the Commissioner General is statutorily empowered to…
The interest and repayment of capital under subsections (1) and (2) of section 31 of the Inland Revenue Act, No. 24 of 2017, shall be calculated as if the loan were a blended loan with interest compounded six-monthly or other period which is considered by the generally accepted accounting principles.
Where a person conducting a banking business makes specific provision for a debt claim in accordance with the relevant directives made by the Central Bank of Sri Lanka, subject to conditions as set out in the gazette (attached). No provision made in respect of potential risk of credit facilities in accordance with the relative directives made…
Department of Inland Revenue has published amended notice on Implementation of Changes to Value Added Tax (VAT) Act (click here to download) as amended by the Value Added Tax (Amendment) Act, No. 25 of 2018, As instructed by the Ministry of Finance and Mass Media, a policy decision has been taken to continue the exemption on…
Department of Inland Revenue has published a notice in addition to the notice issued under PN/Tax Returns/2020-01 on 21.04.2020 allowing extension for submission of returns and taking in to account the prevailing situation in the country, the date of submission for following Tax Returns has been further extended up to July 15, 2020. Annual Declaration…
Tax payments & Returns due dates and tax types & payment period codes for the month of February 2021 are as follows: FEBRUARY 15TH Corporate Income Tax (CIT) 3rd Instalment for the Y/A 2020/2021 is due on February 15, 2021. Tax Type: 02 Period Code: 20213 Individual Income Tax (IIT) 3rd Instalment for the Y/A 2020/2021 is…