Applicability of Transfer Pricing regulations due to the implementation of newly proposed changes of concessionary tax rates and / or tax exemptions. Download IRD Notice No. PN/TP/2020-02 | Dated: 25 November 2020
A new guideline has been prepared for the period from 01.01.2020 to 31.03.2020 and uploaded in the IRD web portal of the Department (Link) to provide instructions to the employers to deduct Withholding Tax under the PAYE Scheme, as instructed by the Ministry of Finance, (subject to formal amendment to the Inland Revenue Act, No….
Any dividend paid to be shareholder of any company prior to April 01, 2019, out of any such dividend received by that company from any other company on which WHT 10% had been deducted prior to April 01, 2018 in accordance with the provisions of the Inland Revenue Act, No. 10 of 2006, such dividend…
Decisions Taken by Cabinet of Ministers on its meeting held on 07.05.2019 The Cabinet of Ministers approved the proposal presented by Hon. Eran Wickramarathne, Acting Minister of Finance, to provide a concessionary period for loans taken by those engaged in the tourism industry, provide them Capital Loan facilities under ‘Enterprise Sri Lanka’ program, reduction of…
Department of Inland Revenue has published attached Primary & Secondary Employment Declarations in order to get consent from employees (Primary / Secondary). Primary Employment Declaration Secondary Employment Declaration – Resident Deduction of APIT is compulsory from non-resident employees, regardless of their consent.
Download Circular to Banks, Financial Institutions and Remitters of Foreign Exchange – Collection of Remittance Fee (RF) on the Remittance the Inward Remittance of Foreign Exchange as Enacted in the Foreign Exchange Act No. 12 of 2017 – Circular No. SEC/2018/02 [27 March 2018]
Join EY’s 20th Post Budget Conference 2020 LIVE on Microsoft TEAMS. To receive the event invite send your joining instructions here: https://cvent.me/7kWk94 FREE ENTRANCE / REGISTRATION
In Sri Lanka, the taxation landscape has been evolving, and one of the significant changes that have garnered attention is the imposition of a 5% Advance Income Tax (AIT) on interest and discount on deposits. This article delves into the critical aspects of this tax, as outlined in the Inland Revenue Department’s Circulars SEC/2022/E/02 and…
The government has issued an amendment to the Inland Revenue Act No 24 of 2017. The Inland Revenue (Amendment) Act was passed in Parliament on 4 May 2021 and certified on 13 May 2021 by the Hon. Speaker. This Amendment Act brings into law the Government budget proposals which were announced in November 2020 and other announcements made in…
New Gazette for the circumstances to withhold tax from payments where the payments made to any employee and rates of tax to be withheld from such payments under paragraph (1) of Section 83 read with item (a) of sub paragraph (1) of paragraph 10 of First Schedule of the Inland Revenue Act, No. 24 of 2017.
Taking into account of the prevailing situation in the country, the validity period of all VAT Active Certificates (which are expiring on or after October 01, 2020) issued by the Inland Revenue Department to the VAT registered persons are extended until December 31, 2020. Download IRD Notice No. PN/TC/2020-07 | Dated: 02 November 2020
Individuals Partnerships Resident, Non-Resident Companies, Entities and Corporations, etc. facebook, youtube, amazon, weather, google maps, news, gmail, sports, movies, music, games, translate, dictionary, shopping, flights, hotels, jobs, health, travel, recipes
Department of Inland Revenue has published Guide to Individuals Tax Return of Income – Year of Assessment 2018/2019. Download English Guide Download Sinhala Guide
Department of Inland Revenue has updated Declaration Form which is required to submit by Senior Citizens to the Financial Institutions. Updated Circular – Withholding Tax on Interest paid by Banks or other Financial Institutions – No. SEC/2018/01 Download – English Download – Sinhala Updated Declaration Form – Declaration by Senior Citizens to the Financial Institutions Download –…