New Gazette has been published for Tax exemption on Dividend under BOI by amending the paragraph (3) of the Transitional Provisions Gazette No. 2064/53. Download the Gazette for Tax exemption on Dividend under BOI – English | Sinhala
Department of Inland Revenue has published a notice on WHT as instructed by the Ministry of Finance. Download IRD Notice
New amendment to the NBT Act. Download – English Download – Sinhala Summary This clause amends section 3 of the Nation Building Tax Act, No. 9 of 2009 (hereinafter referred to as the “principal enactment”) and the legal effect of the section as amended is to limit the period of exemption granted to certain cigarettes…
Download Gazette: English | Sinhala Department of Inland Revenue has published a gazette on capital gain tax and summary of the same as below; Where the gain made by a resident individual from the realization of investment asset exceeds Rs. 50,000 capital gain tax return should be filed with the Commissioner General of Inland Revenue…
In terms of section 102(1) of Inland Revenue Act, No. 24 of 2017 (IRA), every person chargeable with Income Tax shall obtain the registration with the Commissioner General of Inland Revenue (CGIR). Further to that, in terms of the section 102(3) of IRA, the Extraordinary Gazette Notification bearing No 2334/21 dated 31/05/2023 issued specifies additional…
Department of Inland Revenue has published a paper notice on Receipt of Inward Remittances for Exports and Adjustment of Input Value Added Tax (VAT). Download Paper Notice No: PN/VAT/2021-06 | Dated: 05.08.2021
Taking into account the prevailing situation in the country, the Inland Revenue Department has made arrangements to request the Tax Residency Certificates (TRC) via e-Mails. Download IRD Notice No. PN/TC/2020-05 | Dated: 08 Oct 2020
A Bill has been drafted by the legal draftsman to amend the Inland Revenue Act, No.24 of 2017, and the Value Added Tax Act, No.14 of 2002 in order to implement tax reforms adduced by the Economic Revival Origins presented to introduce a simple, transparent and an effective tax System as pledged by His Excellency…
The Excise Notification No. 994 published in the Gazette Extraordinary No. 1998/7 dated 20 December 2016 is hereby rescinded and amend the Excise Notification No. 992 published in the Gazette Extraordinary, No. 1997/16 dated 15.12.2016 by substitution of Schedule I of the Excise Notification No. 1004 with effect from 01 January 2018. Excise Notification No. 1004 – Annual…
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…
An extract of a notice published in the Ministry of Finance website is quoted below for your information. PUBLISHED ON 2ND NOVEMBER 2018 Download His Excellency the President, and the Honorable Prime Minister and Minister of Finance and Economic Affairs have raised concerns regarding the serious setback in the economy as reflected in the persistently low…
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 Surcharge Tax Return and Guide. Surcharge Tax Return Surcharge Tax Return Guide Click here to refer to Surcharge Tax
Tax payments & Returns due dates and tax types & payment period codes for the month of November 2020 are as follows: NOVEMBER 15TH Corporate Income Tax (CIT) 2nd Instalment for the Y/A 2020/2021 is due on November 13, 2020 (Since November 14th & 15th fall on holidays) Tax Type: 02 Period Code: 20212 Individual Income…