Guideline on Terminal Benefits
Department of Inland Revenue has issued a circular on Guideline for Employees Trust Fund (ETF), all Provident Funds & all Employers – Circular No. SEC/2020/02 [18 February 2020] Download Circular No. SEC/2020/02
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Customs changes on Budget 2021
Customs changes on Budget 2021 are as follows; 2021 Budget Import Cess Letter 2021 Budget Import Cess Annexure Order under Section 14 of Sri Lanka Export Development Act No. 40 of 1979 Revenue Protection Order No.08.2020 published under Revenue Protection Act No. 19 of 1962 Special Commodity Levy Act No. 48 of 2007
NBT Return submission due date extended
Submission of Nation Building Tax (NBT) Return has been allowed up to 25 October 2019 and the same would be considered as duly submitted. IRD Notice
PAYE Tax Tables for the period 01 January 2020 to 31 March 2020
The Inland Revenue Department has published the PAYE tables and the guidelines to be followed for the computation of withholding tax under the PAYE scheme for the period 1st January 2020 to 31st March 2020. Guideline: Instructions to Employers on Deducting Withholding Tax (PAYE) from Employment Income of employees Table – A: Rates for the…
Online Tax Payments
Alternative Tax Payment System (ATPS) through Online Fund Transfer Facility. Taking in to account of the Covid -19 Endemic situation currently prevailing in the country, the Inland Revenue Department (IRD) has introduced an Alternative Tax Payment System (ATPS) for making tax payments through Online Fund Transfer Facility, with the collaboration of specific banks, with effect from 08-04-2020….
List of VAT Inactivated persons as at 20 January 2020
Department of Inland Revenue has published a list of VAT Registration inactivated persons as at 20.01.2020. Download List: PDF | Excel
VAT on imported fabric reduced to 5%
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
APIT should be deducted by employer from Non-Citizens regardless of their consent w.e.f. 01 April 2020
As per the paper notes published by IRD on 11.08.2020 (PN/APIT/2020 – 03), w.e.f. April 01, 2020, APIT (PAYE) should be deducted by employer from All non-resident employees and all resident but non-citizen employees regardless of their consent. Download IRD Notice: PN/APIT/2020-03 | 11.08.2020
Guideline for Debt Repayment Levy (DRL) on Financial Services – Circular No. SEC/2019/03
Department of Inland Revenue has published circular to all Financial Institutions – Imposition of Debt Repayment Levy under the Finance Act No. 35 of 2018 [24 June 2019]. Download DRL Circular No. SEC/2019/03
Withholding Tax Return for the Y/A 2019/2020
Department of Inland Revenue has published Withholding Tax Return for the Y/A 2019/2020. Download: Statement of Withholding Tax – Y/A 2019/2020 Guidelines to Fill the Statement of Withholding Tax Schedules to Withholding Tax Return
Recent Amendments to the Social Security Contribution Levy (SSCL): Key Takeaways from IRD Notice PN/SSCL/2026-04/1
The Inland Revenue Department (IRD) has published a crucial Notice to Taxpayers (PN/SSCL/2026-04/1, dated April 16, 2026) outlining significant modifications to the Social Security Contribution Levy. These changes are mandated by the recently enacted Social Security Contribution Levy (Amendment) Act, No. 10 of 2026, which was certified by the Speaker on April 9, 2026. For…
Incorporation of foreign owned companies in Sri Lanka
Incorporation of foreign-owned companies in Sri Lanka with Registrar of Companies is temporally held until further notice (Except BOI approved companies). For more details Contact Incorporation Division 0112689208/09 – Ext 245, Direct 0112689616
Statement of Estimated Income Tax Payable – Year of Assessment 2020/2021
Department of Inland Revenue has published followings on Estimated Income Tax Payable – Year of Assessment 2020/2021 which is due on August 15, 2020. Statement of Estimated Income Tax Payable [Set_E] Instructions for Completing the Statement of Estimated Tax
Calculation of Income Tax payable for the year of Assessment commencing on April 1, 2022 – Circular No. SEC/2023/E/03
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…