New Inland Revenue Act, No. 24 of 2017
The Inland Revenue Act, No. 24 of 2017 comes into operation with effect on April 1, 2018. Inland Revenue Act, No. 24 of 2017 – Download English Inland Revenue Act, No. 24 of 2017 – Download Sinhala
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Updated Schedule File Verifier Tool
Department of Inland Revenue has published Updated Schedule File Verifier Tool. Click here to download
PAYE and WHT Returns can be submitted until 31 January 2021 without penalties.
Taking into consideration of Covid-19 pandemic situation it was made possible to submit the said statements up to 31.12.2020 without subject to penalties. Considering the requests of the withholding agents due to difficulties still existing to submit, they are informed that penalties for failure to file the statement on time as provided in the IRA…
IRD Notice on Making Payments of IT, PAYE, APIT, WHT (AIT)
As per the notice published by the Commissioner General of Inland Revenue, PAYE payment for the period from January 01, 2020 to March 31, 2020, WHT/AIT, APIT payments for the month of April 2020 and income tax (IT) 4th installment payment of the year of assessment 2019/2020 shall be made on or before May 15, 2020….
Extension of Validity Period of the Tax Clearance Certificates relating to Liquor Licenses
Taking into account of the prevailing situation in the country, all divisional secretaries and liquor license holders are informed to treat that the validity period of all tax clearance certificates relating to liquor licenses (which will be expired before December 31, 2020) issued by the Inland Revenue Department to the liquor license holders have been…
Updated Schedules 6 & 7 for Exports
Department of Inland Revenue has uploaded updated Schedules 6 & 7 for Exports. Download Schedule 06 – Goods Export Schedule Download Schedule 07 – Service Export Schedule
Further clarifications on Transfer Pricing Information in Relation to the Return of Income Year of Assessment 2019/2020
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
22nd Annual Tax Oration conducted by CA Sri Lanka
Eminent lawyer Dr. K. Kanag-Isvaran highlights need for Tax Ombudsman at CA Sri Lanka’s 22nd Annual Tax Oration President’s Counsel Dr. K. Kanag-Isvaran, who is one of the country’s most respected lawyers highlighted the need for a “Tax Ombudsman” in Sri Lanka while delivering the keynote speech at the 22nd Annual Tax Oration of CA…
Central bank has issued a circular to Banks by suspending certain facilities
Central Bank of Sri Lanka published on 19 March 2020 The Central Bank of Sri Lanka introduces Urgent Measures to Ease the Pressure on the Exchange Rate and Prevent Financial Market Panic due to the COVID-19 Pandemic. As per the provisions of the Monetary Law Act No. 58 of 1949, the Banking Act No. 30…
No penalties for submission of Income Tax Return for the Y/A 2020/2021
According to the provisions of the Inland Revenue Act, No. 24 of 2017 (IRA), every person who is liable for Income Tax shall file a Return of Income not later than eight months after the end of each Year of Assessment. Therefore, last date to furnish the Return of Income for the year of assessment…
Further extension on VAT Deferment Facility & Temporary Registration
Department of Inland Revenue has published a public notice by amending the public notice number PN/VAT/2020-09 issued on 29.06.2020 as follows. VAT Deferment Facility on Imports at the Customs/BOI Validity of the last issued extension letters with regard to Credit Vouchers (CV) due against the VAT deferred at the Customs/BOI under deferment facility, has been further extended…
Revised IRD Notice on Requirement of Tax Clearance Certificates for Outward Remittances
IRD has informed that the Notice issued on 08 April, 2020 under the reference No. PN/TC/2020-03 is still valid and all Commercial Banks & Authorized Dealers Engaged in Outward Remittances and the Persons who make Outward Remittances are kindly requested to adhere to the procedure sets out in said notice. Download IRD Notice No. PN/TC/2020-04 (Revised) | Dated: 03…
Tax Payments & Returns – September 2020
Tax payments & Returns due dates and tax types & payment period codes for the month of September 2020 are as follows: SEPTEMBER 15TH Advance Personal Income Tax (APIT) for the month of August 2020 is due on September 15, 2020. Individual who has already given the consent to the employer (company) to deduct Advance Personal Income Tax (APIT)…
Extension of Tax Return Submission Dates
PAYE, WHT, ESC, Stamp Duty, VAT on FS Interim Estimate & Transfer Pricing Disclosure Form Department of Inland Revenue has published a paper notice (PN/Tax Return/2020-01) by extending the following due dates of Tax Returns submission. Annual Declaration of Employer (PAYE Return) for the Y/A 2019/2020 is due on April 30, 2020 Annual Declaration of Employer…