Department of Inland Revenue has published notice on Implementation of Changes to Value Added Tax (VAT) on Healthcare Services as published in the Extraordinary Gazette. As per the Extraordinary Gazette notification No. 2076/06 dated 2nd July 2018, for any period from 2nd July 2018, value of supply of Healthcare Services should comprise only the Hospital…
Department of Inland Revenue has published a paper notice (PN/Tax Returns/2020-03) by in lining with the approval for “Tax Relief Measures to Facilitate Post COVID-19 Economic Recovery” granted by the Cabinet of Ministers on June 24, 2020, date of submission of following Tax Returns/statements has been further extended up to December 31, 2020. Annual Declaration…
Department of Inland Revenue has published a Guide – Instructions for calculation of Statement of Estimated Income Tax Payable – Calculation Guide [Download].
Notice to ETF Board, Provident Funds and Employers who have retained the Tax on Terminal Benefits to Retiring Employees. Any amount retained by the Employees’ Trust Fund (ETF) Board, any Provident Fund or Employer (hereinafter referred to as the “Retainers”) as per the Guideline published by Circular No. SEC/2020/02 of the Commissioner General of Inland…
Schedule File Verifier – Version: 3.7.4 Department of Inland Revenue has issued new version of schedule file verification tool to verify schedules (VAT/SVAT/PAYE/WHT) and submit via E-filing.
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…
New Gazette has been issued by approving “Center for Handicapped” Organization as a charitable Institution under the Inland Revenue Act No. 24 of 2017. Download Gazette: English | Sinhala
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…
An amendment has been issued by amending following sections to Excise Act; Amends section 30 of the Excise Ordinance (Chapter 52) and the legal effect as amended is to expand the Categories of persons required to keep instruments. Amends section 32 of the principal enactment and the legal effect as amended is to empower the Minister…
Department of Inland Revenue has published estimate Income Tax Return and Guidelines for the Y/A 2019/2020. Statement of Estimated Income Tax Payable Instructions for the Submission of Statement of Estimated Income Tax Payable Download – Instructions for calculation of Statement of Estimated Income Tax Payable [NEW]
As per the amendments made to sub item (iv) of item (xxii) of paragraph (a) of the First Schedule to the Value Added Tax Act, No. 14 of 2002 (VAT Act) by the Value Added Tax (Amendment) Act, No. 25 of 2018, exemption granted on the import or supply of wood (sawn) from VAT is…
Value Added Tax (VAT) on imported fabric has reduced by 10% and relevant notice published by Customs is now available : Download. Visit: Latest Customs changes
Tax payments & Returns due dates and tax types & payment period codes for the month of May 2021 are as follows: MAY 15TH Corporate Income Tax (CIT) 4th Instalment for the Y/A 2020/2021 is due on May 13, 2021 (Since May 14 & 15 falls on holidays). Online payment (OTPP) can be made until May…