As the approval granted by the Cabinet of Ministers and instructed by the Ministry of Finance on December 17, 2020, piece based VAT rate applicable on local supply of certain garments classified under the HS Chapters 61, 62 and 63 by export oriented Board of Investment enterprises, has been reduced to Rs. 25/- from Rs….
Department of Inland Revenue is now accepting Statement of Estimated Tax Payable (SET) via e-Service with effective from the Y/A 2021/2022. Statement of Estimated Tax Payable (SET) is due on 15 August 2021 for the first quarter ended 31 June 2021 for the YA 2021/2022. Click here to Download Quick Guide Publish by the Department of…
Imposition of Value Added Tax (VAT) on Fabric at the point of Importation As per the amendments made to sub item (v) of item (xxii) paragraph (a) and item (xxxvi) of paragraph (c) of the First Schedule to the Value Added Tax Act, No. 14 of 2002 by the Value Added Tax (Amendment) Act, No….
The Department of Inland Revenue has now published in their website, the Withholding Tax Return, Schedule Templates and Guidelines applicable for the year of assessment 2018/2019, in terms of section 84 and 85 of the Inland Revenue Act No. 24 of 2017 and the Circular No. SEC/2018/06 published on 18 April 2018. Please find attached…
Tax payments & Returns due dates and tax types & payment period codes for the month of July 2022 are as follows: JULY 15TH Advance Personal Income Tax (APIT) for the month of June 2022 is due on July 15, 2022. Individual who has already given the consent to the employer (company) to deduct Advance Personal Income Tax (APIT)…
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
Department of Inland Revenue has informed the Sri Lanka Banks’ Association to exempt the interest income from foreign currency accounts with effect from 01.01.2020 as instructed by the Ministry of Finance and subject to formal amendment to the Inland Revenue Act No. 24 of 2017. Download the Letter issued by the Department of Inland Revenue
Department of Inland Revenue has introduced new VAT schedules for Export of Goods and Services. These schedules are effective for all transactions from 01 April 2021. Schedule 06 – Goods Export Schedule Schedule 07 – Service Export Schedule
The public notice number PN/VAT/2020-14 issued on 30.12.2020 has been amended as follows. 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 up to April 30, 2021. Please note that this notice is issued with the awareness…
Section 2 of the Special Commodity Levy Act, No. 48 of 2007, impose, in respect of the list of commodity specified in Column I of the Schedule hereto a Special Commodity Levy, at the rate specified in the corresponding entry in Column II of Schedule in the gazette attached above. This Order shall be valid for a…
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Extension of Time to Remit Tax to the Inland Revenue Department Any amount (in lieu of income tax) retained by the Employees’ Trust Fund Board (ETF), any Provident Fund or Employer as per the Circular No. SEC/2020/02 of the Commissioner-General of Inland Revenue dated 18.02.2020, as tax on terminal benefits due for the retiring employees for which…
Department of Inland Revenue has published Annual Statement of Employer (PAYE Return) for the Y/A 2019/2020. Download Annual Statement of Employer 2019/2020 Schedule 01 – For Remuneration Other than and Once- and –for – all payments Schedule 02- For Ones- and-for-all Payments Instructions to Complete the Annual Statement of Employer and Schedules