Gazette notification under Paragraph (e)(iii) of the Third Schedule of the Inland Revenue Act, No. 24 of 2017- official emoluments of any individual who is employed by the Asian Development Bank.
WHT Annual Statement – Year of Assessment 2018/2019 is due on April 30, 2019 which is required to submit together with applicable WHT schedules. IRD has published “Updated Schedule File Verifier Tool” in order to verify the WHT schedules applicable under new IRA. Click on below link to Download and run the Updated Schedule File…
Employment income is an essential component of taxation, representing the total gains and profits derived from an individual’s employment. This includes all remuneration received in cash or kind from an employer as compensation for services rendered. For the year of assessment (Y/A) 2023/2024 in Sri Lanka, employment income plays a pivotal role in calculating the…
Department of Inland Revenue has extended VAT Deferment Facility on Imports at the Customs/BOI and Temporary VAT registration till 31 December 2020 based on the prevailing situation of the country. Download IRD Notice No.: PN/VAT/2020-13 | Dated: 06 Oct 2020 Previous Paper Notice No: PN/VAT/2020-11 | Dated: 30 July 2020
IRD Notice on Taxpayer Registration, Income Tax Payments and Furnishing Return of Income for the Year of Assessment 2019/2020. In accordance with the amendments to the Inland Revenue Act, No. 24 of 2017 passed in Parliament on the May 4, 2021; Resident individuals whose employment income was subjected to PAYE prior to January 1, 2020…
Department of Inland Revenue has published a circular to Banks / Financial Institutions – Withholding Tax on Interest paid by Banks or other Financial Institutions Download Circular No. SEC/2019/04 [27 December 2019]
Taking into account the prevailing Covid-19 pandemic situation in the country, the Commercial Banks, Authorized Dealers engaged in outward remittances and the person who make the outward remittances are hereby informed to treat that the validity of Outward Remittance Clearances issued for covering specified period of time (which are expiring on or after December 31, 2020) by…
Eminent lawyer Dr. K. Kanag-Isvaran highlights need for Tax Ombudsman at CA Sri Lanka’s 22nd Annual Tax Oration President’s Counsel Dr. K. Kanag-Isvaran, who is one of the country’s most respected lawyers highlighted the need for a “Tax Ombudsman” in Sri Lanka while delivering the keynote speech at the 22nd Annual Tax Oration of CA…
Withholding Tax (WHT)/ Advance Income Tax (AIT) Return and Schedules w.e.f. 01 April 2020 (Y/A 2019/2020) Return Annual Statement of Withholding Tax / Advance Income Tax Guidelines Guidelines to Fill the Statement of Withholding Tax Schedules PDF – Schedules to Withholding Tax Return/ Advance Income Tax Excel – Schedule 1 – Withholding Tax/ Advance Income…
This is an IRD notice about corruption at the Inland Revenue Department (IRD). It discusses the measures taken to reduce corruption, including a zero-tolerance policy, a variety of ways to report corruption, and protection for whistleblowers. This notice also emphasizes the importance of taxpayer honesty. Download IRD Notice: PN/OT/2023-01
Department of Inland Revenue has published attached Primary & Secondary Employment Declarations in order to get consent from employees (Primary / Secondary). Primary Employment Declaration Secondary Employment Declaration – Resident Deduction of APIT is compulsory from non-resident employees, regardless of their consent.
Department of Inland Revenue has published circular to Banks and Financial Institutions – Withholding Tax on Interest paid by Banks or other Financial Institutions. Download – Circular No. SEC/2020/01 [29 January 2020] Previous Circular – Circular No. SEC/2019/04 [27 December 2019]
