IRD Notice to ETF Board, Provident Funds and Employers who have retained the Tax on Terminal Benefits to Retiring Employees

Extension of Time to Remit Tax to the Inland Revenue Department

Any amount (in lieu of income tax) retained by the Employees’ Trust Fund Board (ETF), any Provident Fund or Employer as per the Circular No. SEC/2020/02 of the Commissioner-General of Inland Revenue dated 18.02.2020, as tax on terminal benefits due for the retiring employees for which such employees were required to produce a Direction from the Inland Revenue Department (IRD) within 90 days from the date of retention of tax, and that 90 days period expires on or after 12-03-2020, such 90 days period for retention of such tax deducted by the ETF Board, any Provident Fund or Employer, has been extended till 30th June, 2020, considering the COVID-19 Epidemic situation prevailing in the country.

Download IRD Notice: No. PN/APIT/2020-02 | Dated: 13.05.2020