Lanka Tax Club

The Inland Revenue Department (IRD) of Sri Lanka has issued an important notice to all taxpayers regarding the recovery of outstanding taxes. This notice highlights a serious issue that has recently come to light and provides crucial guidance for all taxpayers to ensure their safety and proper compliance with tax regulations. Key Information The IRD…

Followed by a proposal made by H.E the President, the approval of the Cabinet was granted at its meeting held on the 2019‑11‑27 for the introduction of a simple, transparent and efficient tax system to all the stakeholders in the economy including consumers, working population, entrepreneurs and tax paying community. Morefully, the Government has also…

Betting and Gaming Levy (Amendment) Bill – The proposal made by the Minister of Finance to publish the draft (Amendment) Bill for the amendment of the Betting and Gaming Levy Act, No.40 of 1988 prepared by the Legal Draftsman in the Government Gazette for increasing the Annual Levy from Rs.200 million to Rs.400 million, for…

This is an IRD notice about corruption at the Inland Revenue Department (IRD). It discusses the measures taken to reduce corruption, including a zero-tolerance policy, a variety of ways to report corruption, and protection for whistleblowers. This notice also emphasizes the importance of taxpayer honesty. Download IRD Notice: PN/OT/2023-01

Further Instructions to Alternative Tax Payment System (ATPS) through Online Fund Transfer Facility Further to the notices published on the above subject on 8th April 2020 PN/PMT/2020-1 and on 14th May 2020 PN/PMT/2020-3 the below instructions should be adhered when doing payments using online facilities provided by commercial banks. Only use the online payment facility to…

The Cabinet of Ministers has approved the appointment of Mr. Nadun Guruge as the Commissioner General of Inland Revenue Department. Mr. Nadun Guruge had previously served as the Deputy Commissioner General of Inland Revenue Department and was later appointed the Acting Commissioner General of Inland Revenue Department.

Department of Inland Revenue has published Advance Personal Income Tax (APIT) Tables for the Y/A 2020/2021. Index: Index Table – 1: [Monthly Tax deductions from regular profits] How to apply Table 1 Table 1 Table – 2: [Rates for the deduction of tax from Lump-sum-payments] How to apply Table 2 Table – 3: [Rates for the…

Department of Inland Revenue has published a paper notice (PN/DTR/2020-02) by in lining with the approval for “Tax Relief Measures to Facilitate Post COVID-19 Economic Recovery” granted by the Cabinet of Ministers on June 24, 2020, all the Banks are informed that the notices issued, if any, under Section 180 of the Inland Revenue Act…

Department of Inland Revenue has published on changes that have been proposed to the Inland Revenue Act, No. 24 of 2017. The law pertaining to the above is yet to be enacted. Download IRD Notice: PN/IT/2020-03 (Revised) | 08.04.2020

Department of Inland Revenue has published updated schedules for WHT Credit which are required to be submitted together with Income Tax Return. Individuals Schedule for Withholding Tax Credit Schedule for Withholding Tax Credit (Amendment) Partnerships Schedule for Withholding Tax Credit Schedule for Withholding Tax Credit (Amendment) Resident, Non-Resident Companies, Entities and Corporations, etc. Schedule for…

IRD has published updated (25.06.2018) document for Values of Non Cash Benefits for the purpose of PAYE. Non Cash Benefits can be categorized mainly into four as follows; Value of Company shares awarded by Employer . Value of benefits from any residence provided by the Employer Value of Transport Facilities provided by the Employer Other…

Department of Inland Revenue has published Updated Schedule File Verifier Tool. Click here to download