New Gazette has been issued by approving “Center for Handicapped” Organization as a charitable Institution under the Inland Revenue Act No. 24 of 2017. Download Gazette: English | Sinhala
Department of Inland Revenue has published TPDF and guide for the Y/A 2019/2020. Download Transfer Pricing Disclosure Form Download Guide to Transfer Pricing Disclosure Form
Key Tax Proposals – Imposition of New Taxes Surcharge Tax It has been proposed to introduce a Surcharge Tax at the rate of 25% on individuals or companies, whose taxable income exceeds LKR 2,000 Mn for the year of assessment 2020/2021. This proposal has been introduced as one-time tax charge to the taxpayers. Social Security Contribution It…
Taking into account of the COVID – 19 pandemic situation in the country, period of validity of Temporary VAT Registration issued on or after 01.01.2019 for import or export, which gets expired on or before June 30, 2021 as per the certificate, has been extended up to June 30, 2021. Temporary registration is issued only to persons…
Electronic filing facility through e-service is available for filing the Return of Income for Companies, Partnerships and Individuals. A Company or a Partnership or an Individual should have a Personal Identification Number (PIN) and also a Company or a Partnership should have a Special Staff Identity Number (SSID) or SSID numbers for e-filing. Download IRD…
Excise Duty under Excise Ordinance Revision of Excise Duty Rates The Excise Duty based on the Alcohol volume will be revised as follows: Type Rate (Rs. Per litre of alcohol) Special Arrack No change Other Arrack 3,550/- Country made foreign liquor 3,550/- Beer less than 5% 2,700/- Beer more than 5% 2,700/- Wine – Local…
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
Download Form Every employee is required to furnish Primary Employment Declaration Form, to the employer nominating his primary employment under New IRA. A declaration must be signed and dated by the employee and the employer, and may relate to one or more years of assessment. An employee must not have more than one primary…
Budget 2019 Budget speech – 2019 – English | Sinhala | Tamil Analysis by Tax Professionals: EY | KPMG | PwC | Deloitte
Special Commodity Levy has been imposed on Mackerel, Peas, Seeds etc and shall be valid for a period of 06 months commencing from March 08, 2018. Download – English Download – Sinhala
Department of Inland Revenue has published a Circular stating instructions to taxpayers for requesting a private ruling – Circular No. SEC/2018/07.
The Finance Act No. 35 of 2018 imposes Carbon Tax in the following manner; Liable Persons: Registered owner of every motor vehicle Chargeable period: Every year (other than for the first year of registration of such motor vehicle) Effective Date: January 1, 2019 Applicable Rates: Payment Due Date: On or…
Department of Inland Revenue has published Specimen and Guide to filling the Income Tax Return – Y/A 2017/2018 Individuals Return of Income – [Asmt_IIT_001_E] Schedules to Return of Income – [Asmt_IIT_002_E] Statement of Assets and Liabilities – [IIT_4R_3(3)_E] Guide to filling the Return & Schedules – [IIT_IR14_E] Tax Calculator (For Taxpayer calculation purpose only) Partnerships Return of…
Prime Minister’s Media Division has published Proposed Tax Reforms in 2022 which are effective from 01 October 2022 other than the following: VAT Rate change from 8% to 12% Telecommunication Levy change from 11.25% to 15% Download the details version of the proposed Tax Reforms in 2022