List of VAT Registration Deactivated Persons (w.e.f. 20.01.2021)
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
Read More
Gazette notification under Paragraph (e)(iii) of the Third Schedule of the Inland Revenue Act, No. 24 of 2017
Gazette notification under Paragraph (e)(iii) of the Third Schedule of the Inland Revenue Act, No. 24 of 2017- official emoluments of any individual who is employed by the Asian Development Bank.
Tax Summary of Budget 2024
1. Income Tax (Amendments to the Inland Revenue Act, No. 24 of 2017 1.1 Tax Payable by Withholding (a) A special tax return requirement will be introduced for the deduction of 2.5% withholding tax levied on the sale price of any gem sold at an auction conducted by the National Gems and Jewellery Authority. Exemption…
Amendments to Ports and Airports Development Levy w.e.f. December 06, 2019
New Gazette has been published to amend Ports and Airports Development Levy (PAL) w.e.f. December 06, 2019. Download Gazette on PAL changes
Budget 2019 – Proposals on Excise Duty
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…
Tax Payments & Returns – July 2020
Tax payments & Returns due dates and payment period codes for the month of July 2020 are as follows: Advance Personal Income Tax (APIT) for the month of June 2020 is due on July 15, 2020. Tax Type: 03 Period Code: 20060 WHT / AIT on Interest for the month of June 2020 is due…
New Commissioner General of Inland Revenue Department
The Cabinet of Ministers has approved the appointment of Mr. Nadun Guruge as the Commissioner General of Inland Revenue Department. Mr. Nadun Guruge had previously served as the Deputy Commissioner General of Inland Revenue Department and was later appointed the Acting Commissioner General of Inland Revenue Department.
IR and VAT Bills approved by the Parliament with amendments
Inland Revenue (Amendment) Bill and VAT (Amendment) Bill were approved by the Parliament today with amendments. Await for more details.
Withholding Tax (WHT)/ Advance Income Tax (AIT) Return and Schedules
Withholding Tax (WHT)/ Advance Income Tax (AIT) Return and Schedules w.e.f. 01 April 2020 (Y/A 2019/2020) Return Annual Statement of Withholding Tax / Advance Income Tax Guidelines Guidelines to Fill the Statement of Withholding Tax Schedules PDF – Schedules to Withholding Tax Return/ Advance Income Tax Excel – Schedule 1 – Withholding Tax/ Advance Income…
Tax Webinar: How to calculate your tax liability if you have Salary + Interest – YA 2022/2023
ඔයාට තියෙන්නේ Salary විතරද? එහෙම නැත්නම් Salary සහ පොළී අදායම විතරද? එහෙනම් තනියෙම ඔයාගේ Tax එක හදමුද? 📌 Registration Link: https://forms.gle/2GwBYEpNAsZtUH8U8 📌 Date & Time: 22 October 2023 at 8:00PM onwards 📌 Investment: LKR 500/- (50% Discount for first 100 registrations) 📌 Limited Zoom seats are available! 📌 Hurry Up! Register Soon!
Extension for validity of Outward Remittance Clearances issued for covering specified period of time
Taking into account the prevailing Covid-19 pandemic situation in the country, the Commercial Banks, Authorized Dealers engaged in outward remittances and the person who make the outward remittances are hereby informed to treat that the validity of Outward Remittance Clearances issued for covering specified period of time (which are expiring on or after December 31, 2020) by…
Budget 2022 Analysis
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…
Pay As You Earn (PAYE) Tax Calculator for Year of Assessment 2018/2019
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.