Circular No. SEC/2023/E/03, issued on May 9, 2023, provides guidance on the calculation of Income Tax payable for the year of Assessment starting from April 1, 2022. The circular, published by the Inland Revenue Department of Sri Lanka, aims to assist taxpayers in understanding the process and requirements for determining their income tax liability. It outlines the relevant regulations and procedures to be followed, offering clarity on various aspects of income tax calculations. Taxpayers and tax professionals can refer to this circular as a reliable resource to ensure accurate and compliant income tax computations. The circular is accessible on the official website of the Inland Revenue Department for further details and comprehensive guidance.
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