Department of Inland Revenue has published a Guide – Instructions for calculation of Statement of Estimated Income Tax Payable – Calculation Guide [Download].
Department of Inland Revenue has published a paper notice by informing that the Alternative Tax Payment System (ATPS) which was introduced temporarily due to the Covid – 19 pandemic situation will be discontinued effect from March 31, 2021. However, tax payment could be made, Through Online Tax Payment Platform (OTPP) or (For further information, visit…
Summary Section 22 of the Economic Service Charge Act, No. 13 of 2006 and the legal effect of the section as amended is to specify the base for charging the service charge for importation of motor vehicles. Schedule IV of the principal enactment and the legal effect of the section as amended is to specify…
Returns of Income – Year of Assessment 2018/2019 Individuals Return of Income Schedules to Return of Income Statement of Assets and Liabilities Guide to filling the Return & Schedules Partnerships Statement of Partnership Income Schedule to Statement of Partnership Income Guide to fill the statement of partnerships income and schedules Resident, Non-Resident Companies, Entities and…
Department of Inland Revenue has published a quick guide on “How to File Value Added Tax on Financial Service (VATFS) Return”. Click here to Download the Guide
Inland Revenue Department has issued a paper notice on Value Added Tax by taking into account the prevailing situation in the country. VAT Payments for the months of February and March 2020 Making the VAT payment including VAT on Financial Services for the month of February which was due on March 20, 2020 and the payment…
Department of Inland Revenue has taken administrative arrangement to issue SVAT Credit Vouchers today (14th Wednesday) at ground floor of IRD Head Office and the same practice will continue for next Wednesday (21st) as well.
Inland Revenue Department (IRD) issued new guidance regarding the Country-by-Country Reporting (CbCR) and CbCR notification requirements, introducing significant changes in the compliance obligations for affected taxpayers. The new guidance includes, among others, an extension for the filing of the CbCR notification; and a significant change relating to the threshold for CbCR purposes, which is in line…
Stamp duty Return can be submitted through e-Service (RAMIS) w.e.f. 01 October 2020 (for Q3 of the year 2020, Period from 1 July 2020 to 30 September 2020). Download Stamp Duty Quick Guide
Notice to the Commercial Banks & Authorized Dealers Engaged in Outward Remittances and the Persons who make Outward Remittances. Requirement of Tax Clearance Certificates for Outward Remittances Due to the prevailing situation of the country affected by the Covid-19 pandemic, the Inland Revenue Department is not in a position to issue Tax Clearance Certificates to the persons who…
Department of Inland Revenue has amended the public notice (No. PN/VAT/2020-03) issued on 26-03-2020 as follows: VAT Deferment Facility on Imports at the Customs/BOI Validity of the last issued extension letters with regard to Credit Vouchers (CV) due against the VAT deferred at the Customs/BOI under deferment facility, has been extended up to 30th June,…
Value Added Tax (VAT) exemption that was applicable on certain goods and services including importation of air crafts and accessories, sawn timber and fabrics and sale of condominium housing units has been removed under the Value Added Tax (Amendment) Act, No.25 of 2018. However, considering the requests made by the relevant stakeholders in these fields,…
Exemption and concessionary rate of 2.5% for Ports and Airports Development Levy on import of each article specified in the gazette (Attached).
Department of Inland Revenue has published a quick guide for “How to file PAYE Annual Declaration for the Y/A 2018/2019” Download PAYE quick guide