New Regulations made under Economic Service Charges Act, No. 13 of 2006
New Regulations made under Economic Service Charges Act, No. 13 of 2006 Download – English Download – Sinhala Download – Tamil
Read More
President removes tax imposed on gem and jewelry industry
Rs. 1 million loan facility at 4% interest rate for jewelry manufacturers. President Gotabaya Rajapaksa decides to remove the 14% income tax imposed on the profit earned by the gem and jewelry manufacturers and the 15% tax on gold imports. The income tax concession given to the gem and jewelry industry since 1971 was done…
How to submit an Appeal or Objection online
Due to the current situation, you can submit appeals and objections via e-Service under “Approver Login” and at the same time, the system will issue an acknowledgment on the same. Taxpayers who do not have access to e-Services (RAMIS), can send an email to the below email addresses with a scanned copy of the appeal…
INLAND REVENUE ACT, No. 24 oF 2017
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
Taxpayer may designate an Authorized Representative
Circumstances under which a taxpayer may designate an authorized representative to communicate with the Inland Revenue Department on behalf of the taxpayer as set out in the gazette (attached) effective from 01.04.2018.
Foreign Exchange Bill passed in Parliament
Foreign Exchange Bill passed in Parliament 2017-07-25 The amended Foreign Exchange Bill was passed in Parliament with a majority of 78 votes.
Values of Non Cash Benefits for the purpose of PAYE
Download the document published by IRD IRD has published a 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…
“Tax Clearance Certificate” is not required for certain remittances
Download Circular Department of Inland Revenue has published a Circular to Commercial Banks and specialized Banks – Remittances which are not required to obtain a “Tax Clearance Certificate” to proceed the payment through a Banks [Circular No. SEC/2018/03_29 March 2018]
Tax Payments & Returns due dates in the month of September 2021
Tax Payments & Returns due dates in the month of September 2021 Tax payments & Returns due Tax Payments & Returns due dates in the month of September 2021 dates and tax types & payment period codes for the month of September 2021 are as follows: SEPTEMBER 15TH Advance Personal Income Tax (APIT) for the…
Losses on financial instruments
Loss on a financial instrument is occurred as the circumstance in which loss on a financial instrument set against the gain from same type of financial instrument.
Income Tax Guide (Partnerships) – Year of Assessment 2018/2019
Department of Inland Revenue has published Guide to Partnerships Tax Return of Income – Year of Assessment 2018/2019. Download English Guide
Economic Service Charge (ESC) – ආර්ථික සේවා ගාස්තු
Economic Service Charge (ESC) – ආර්ථික සේවා ගාස්තු ESC is levied under ESC Act No.13 of 2006 [as amended by the ESC (Amendment) ActNo.15 of 2007, No.11 of 2008, No.16 of 2009, No.11 of 2011, No.11 of 2012, No.6 of 2013, No. 9 of 2014, No.13 of 2015 and No.7 of 2017, respectively]. CHARHEBILITY…
Apply for Blanket Clearances up to 31/03/2018
Now Taxpayers can apply [from Inland Revenue Department – International Unit] for Blanket Clearances up to 31/03/2018 (Before the new law comes into force) on following outward Remittances- Commission Payments Brokerage Payments Interest Payments (Loan obtained after 01 April 2012) Re-insurance Payments (For Double Tax Treaty Countries)