WHT Annual Statement – Year of Assessment 2018/2019 is due on April 30, 2019 which is required to submit together with applicable WHT schedules. IRD has published “Updated Schedule File Verifier Tool” in order to verify the WHT schedules applicable under new IRA. Click on below link to Download and run the Updated Schedule File…
Department of Inland Revenue has published notice by providing further instructions in addition to the notice published on 08.04.2020 (No. PN/PMT/2020-1) on Alternative Tax Payment System (ATPS) through Online Fund Transfer Facility, by considering some practical issues encountered by the taxpayers. Download IRD Notice No.: PN/PMT/2020-3 | Dated: 14.05.2020
INLAND REVENUE ACT, No. 24 OF 2017 Inland Revenue Act No. 24 of 2017 – English Inland Revenue Act No. 24 of 2017 – Sinhala Certified on 24th of October, 2017
Budget 2019 Budget speech – 2019 – English | Sinhala | Tamil Analysis by Tax Professionals: EY | KPMG | PwC | Deloitte
As per the Extraordinary Gazette Notification No. 2151/52 dated November 29, 2019, published under section 2A of the Value Added Tax Act No. 14 of 2002, VAT rate has been revised with effect from December 01, 2019 as set out below. supply of services by a hotel, guest house, restaurant or other similar businesses providing…
Department of Inland Revenue has published a Circular stating instructions to taxpayers for requesting a private ruling – Circular No. SEC/2018/07.
The Certificate of Income Tax Deductions, commonly referred to as the T-10, is an essential document prescribed under Section 87 of the Inland Revenue Act in Sri Lanka. This certificate plays a vital role for both employers and employees in the process of Advance Personal Income Tax (APIT) compliance. Purpose of the T-10 Certificate The…
The Parliament passed the Nation Building Tax (Amendment) Bill, providing amendments to certain provisions of the Nation Building Tax Act, No. 9 of 2009 (“NBT Act”). This new Amendment Act which is yet to receive the certification of the Speaker has been analysed by us based on the Nation Building…
Department of Inland Revenue has published Pay As You Earn (PAYE) Tax Calculator for Year of Assessment 2018/2019 which can be used for PAYE tax annual declaration purpose. Download PAYE Tax Calculator_1819_V1_E.
The below article has been published by the Ministry of Finance on 31st October 2019. Luxury tax on motor vehicles will not be affected for small vehicles. The Finance Act has been amended as proposed in the Budget 2019 by Minister of Finance Hon. Mangala Samaraweera, the tax levied on motor vehicles will only be…
Budget 2018 – Imposition of Value Added Tax (VAT) for Sale of Condominium Housing Units The Supply of Condominium housing units will be liable for VAT with effect from April 1, 2018 as proposed in the Budget 2018. However, supply of Condominium housing unit will be exempted from VAT under the following cases; Sale of any…
The Inland Revenue Department (IRD) has recently issued a revised circular, SEC/2026/E/06 (Revised), dated August 06, 2026. This document outlines the official methodology for computing quarterly income tax instalments, applicable for the Year of Assessment 2026/2027 and subsequent years. For members of the Lanka Tax Club and taxpayers across the country, understanding these procedures is…
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 following application forms. Application Form for Confirmation of VAT Liability Application Form for Tax Clearance on Other Purpose