Department of Inland Revenue has published estimate Income Tax Return and Guidelines for the Y/A 2019/2020. Statement of Estimated Income Tax Payable Instructions for the Submission of Statement of Estimated Income Tax Payable Download – Instructions for calculation of Statement of Estimated Income Tax Payable [NEW]
Department of Inland Revenue has published a notice on Debit Repayment Levy (DRL) under following headings; Imposition of DRL Monthly Payments & Submission of Value Addition Statement Submission of Return Download IRD Notice on Debit Repayment Levy (DRL) Monthly Value Addition Statement of Debt Repayment Levy
MOST AWAITED OPTION NOW AVAILABLE IN RAMIS!!! Documents such as: Transfer Pricing Disclosure Form (TPDF) Audited Financial Statements Withholding Credit Schedule Etc. which were not able to submit together with online or manual filing on before November 30, 2019 can be submitted through RAMIS login under “Upload schedule Files / Documents” option.
Department of Inland Revenue has published a notice Taxpayer Registrations and Updates on 01.06.2020 No.: PN/TPS/2020-1. Maintaining of completed and updated taxpayer profile is helpful in complying with tax related matters and regulations without undue hassle. Moreover, obtaining the relevant services through e-Services enables you to avoid personally visiting the department on multiple occasions. It is essential…
The circular, identified as Circular No. SEC/2024/E/01 and dated January 4, 2023, addresses suppliers involved in the production of tea, rubber, and coconut products. The primary focus of the circular is on the registration process under the Value Added Tax (VAT) and the Simplified Value Added Tax Scheme. The circular outlines the specific industries that…
Department of Inland Revenue has informed the Sri Lanka Banks’ Association to exempt the interest income from foreign currency accounts with effect from 01.01.2020 as instructed by the Ministry of Finance and subject to formal amendment to the Inland Revenue Act No. 24 of 2017. Download the Letter issued by the Department of Inland Revenue
In line with the directions issued by the Presidential Secretariat on March 23, 2020 to provide relief measures due to Covid 19 outbreak, the Department of Inland Revenue has published a paper notice on Withholding Tax (WHT) Payments for the Months of February and March 2020. Withholding agents and withholdees who are liable to make the payments…
The Finance Act No. 35 of 2018 has been enacted (Certified on November 01, 2018) consequent to the respective proposals made in the Budget 2018, to provide for the amending of certain levies, taxes or fees imposed under respective Finance Acts, and for the imposition of certain new levies, taxes or fees. Outline of the…
A tax invoice is an essential document in the administration of Value Added Tax (VAT) in Sri Lanka. It serves as evidence of a taxable transaction between a VAT-registered supplier and customer. Understanding the key elements of a tax invoice and the regulations surrounding its issuance is crucial for compliance with Sri Lankan tax laws….
Ministry of Finance has published New Gazette on VAT changes with effect from 1 December 2019. Download Gazette 2151/52 – English Download Gazette 2151/52 – Sinhala
Value Added Tax (VAT) [Amendments to the Value Added Tax Act, No.14 of 2002] The piece based VAT rate applicable on domestic sale of certain garments by the export oriented BOI companies will be revised from Rs.75/- to Rs.100/-. The term “locally produced rice products” will be re-defined for the purpose of clarity and certainty….
As per the notice published by the Commissioner General of Inland Revenue, PAYE payment for the period from January 01, 2020 to March 31, 2020, WHT/AIT, APIT payments for the month of April 2020 and income tax (IT) 4th installment payment of the year of assessment 2019/2020 shall be made on or before May 15, 2020….
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]
Department of Inland Revenue has published a list of VAT Registration inactivated persons as at 20.01.2020. Download List: PDF | Excel