Department of Inland Revenue has issued a new public ruling on taxpayers who have been granted the approval to change the accounting period under the Inland Revenue Act No. 10 of 2006. Download the Public Ruling – PR/IT/2018/01
Department of Inland Revenue has published a list of VAT Registration deactivated persons (w.e.f. 20.01.2021). Download: List of VAT Registration deactivated persons
President provides relief in the face of Covid-19 on tax payments, based on that Income Tax & VAT payment due date has been extended up to 30 April 2020. Following questions and implications can be identified based on the above decisions: Income Tax Tax on employment income (PAYE/WHT) for the month of March is due on…
Code for Tax Rate which are applicable to fill the return of Income Year of Assessment -2019/2020 Download the List of Codes for Special Tax Rates 19/20 >>
The Inland Revenue Department has published the PAYE tables and the guidelines to be followed for the computation of withholding tax under the PAYE scheme for the period 1st January 2020 to 31st March 2020. Guideline: Instructions to Employers on Deducting Withholding Tax (PAYE) from Employment Income of employees Table – A: Rates for the…
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…
Nation Building Tax (NBT) [Amendments to the Nation Building Tax Act, No.9 of 2009] The exemption on the importation of rough unprocessed gem stones for re-export after cutting and polishing will be granted for the lapidary service providers registered under the National Gem & Jewellery Authority. Exemption on manufacturing cigarettes will be removed The cost…
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
IRD Notice to VAT Registered Persons who supply Condominium Housing Units As per the Bill and subsequent Committee Stage Amendments (CSA) as passed in Parliament on the 23rd October 2019 to amend Value Added Tax Act, No. 14 of 2002 (VAT Act) including section 22 and item (xi) of paragraph (b) of the First Schedule to…
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…
This bill amends section 3 of the Nation Building Tax Act, No. 9 of 2009 and the legal effect of the section as amended is to limit the period of application of the Nation Building Tax under the said Act to the period prior to December 1, 2019. Download: English | Sinhala
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…
Department of Inland Revenue has published a paper notice on Receipt of Inward Remittances for Exports and Adjustment of Input Value Added Tax (VAT). Download Paper Notice No: PN/VAT/2021-06 | Dated: 05.08.2021
‘‘Canadapura Children’s Home’’ is declared by the Minister by notice published in the Gazette to be an approved charity for the purposes of Section l (a) (ii) of Fifth Schedule of the Inland Revenue Act, No. 24 of 2017. Click here to download the Gazette