Following changes are going to be incorporated to Value Added Tax Act, No. 14 of 2002; Amendments to Section 22 – Local sale of certain garments by export oriented companies Amendments to Section 25A – Sri Lanka Deposit Insurance Scheme Amendments to Section 25C – To limit the taxable period New section 58A – Refund of tax…
Taking in to account the prevailing situation in the country, the Department of Inland Revenue has published attached notice as temporary arrangements to continue their services through e-Services/e-Mails/telephone. Download IRD Notice No: PN/TPS/2020-2 | Dated: 07 Oct 2020
Department of Inland Revenue has published a quick guide on “How to file Statement of Partnership Income online”. Download Quick Guide – “How to file Statement of Partnership Income“
Taking into account of the COVID – 19 pandemic situation in the country, importers and exporters of goods are requested to obtain Taxpayer Identification Number (TIN) and Value Added Tax Registration (temporary or permanent) through e-Services provided in Inland Revenue web portal. Download IRD Notice: PN/TPS/2021-02 | Dated: 03.03.2021
Following gazettes to be released on Budget 2019. DATE GAZETTE NO. DESCRIPTION DOWNLOAD 09-04-2019 2118/24 Luxury Tax on Motor vehicles Click here to download 04-04-2019 2117/48 Gazette Notification Issued under Excise (Special Provisions) Act to Release Vehicles Laying in Hambantota Port in 2015 – 2017 Click here to download 04-04-2019 2117/48 Application Specified in Schedule…
All foreign exchange transactions were governed by the Exchange Control Act, No. 24 of 1953 and regulations and directives issued under such Act. On 25 July 2017, the Parliament passed the Foreign Exchange Act. This new Act which is yet to receive the certification of the Speaker has been analysed by us based on the Foreign…
Following taxes & levies going to be amended to the Finance Act, No. 25 of 2003, the Finance Act, No. 5 of 2005, the Finance Act, No. 12 of 2012, the Finance Act, No. 16 of 1995 and the Finance Act, No. 10 of 2015; Luxury Tax on Motor Vehicles Vehicle Entitlement Levy Annual Company…
Daily FT : 11 October 2017 Digital signature, trade information portal and several key functions to be effective from next year, Single Window blueprint ready for July 2018 On track to achieve Govt. revenue target of Rs. 1 trillion Customs DG keen on enhancing efficiency with technology, people-less offices In a major boost to streamline trade, Sri…
Department of Inland Revenue has published a sample format of Corporate Income Tax Return and Guide to filling the Return & Schedules for the Y/A 2019/2020. Download: Return of Income – [Asmt_CIT_001_E] Schedules to Return of Income – Part A – [Asmt_CIT_002A_E] Schedules to Return of Income – Part B – [Asmt_CIT_002B_E] Guide to Corporate…
Department of Inland Revenue has published Updated Schedule File Verifier Tool. Click here to download
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]
ESC to be imposed on all imports In terms of section 2 of the ESC Law, ESC is charged at a rate of 0.5%, inter alia, on the import of specified goods into Sri Lanka, mainly representing goods subject to the Special Commodity Levy, motor vehicles and gold. It has now been proposed in the…
The interest and repayment of capital under subsections (1) and (2) of section 31 of the Inland Revenue Act, No. 24 of 2017, shall be calculated as if the loan were a blended loan with interest compounded six-monthly or other period which is considered by the generally accepted accounting principles.
Department of Inland Revenue has published Guide to Partnerships Tax Return of Income – Year of Assessment 2018/2019. Download English Guide