Department of Inland Revenue has published notice by extending the due date of the Submission of Statement Estimated Tax (SET) Payable – Year of assessment 2019/2020. Accordingly, SET could be submitted to the IRD once the IRD is opened for the General public after the Covid 19 pandemic situation comes to normal. Download IRD Notice
New Gazette has been published for Tax exemption on Dividend under BOI by amending the paragraph (3) of the Transitional Provisions Gazette No. 2064/53. Download the Gazette for Tax exemption on Dividend under BOI – English | Sinhala
Circular to Commercial Banks and Specialized Banks – Furnishing of Tax Clearance Certificate to Banks Circular No. SEC/2017/05 [16 November 2017]
Budget 2019 Budget speech – 2019 – English | Sinhala | Tamil Analysis by Tax Professionals: EY | KPMG | PwC | Deloitte
New amendment to the NBT Act. Download – English Download – Sinhala Summary This clause amends section 3 of the Nation Building Tax Act, No. 9 of 2009 (hereinafter referred to as the “principal enactment”) and the legal effect of the section as amended is to limit the period of exemption granted to certain cigarettes…
This set of guides, which explains very briefly the main provisions of the Inland Revenue Act No. 24 of 2017 (the Act) which provide the Department’s view point of the legal provisions and guidance to the general public and the taxpayers. It is intended to issue a Manual of Income tax providing comprehensive information and…
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
As approved by the Cabinet of Ministers and instructed by the Ministry of Finance, ESC has been abolished with effect from January 01, 2020, pending parliamentary approval for amendment to the Economic Service Charge Act, No. 13 of 2006. Accordingly, any person or partnership for any quarter commencing on or after January 01, 2020 is…
The Parliament passed the Nation Building Tax (Amendment) Bill, providing amendments to certain provisions of the Nation Building Tax Act, No. 9 of 2009 (“NBT Act”). This new Amendment Act which is yet to receive the certification of the Speaker has been analysed by us based on the Nation Building…
According to the provisions of the Inland Revenue Act, No. 24 of 2017 (IRA), every person who is liable for Income Tax shall file a Return of Income not later than eight months after the end of each Year of Assessment. Therefore, last date to furnish the Return of Income for the year of assessment…
Department of Inland Revenue has published a notice on Filing of Country by Country Report (CbCR) of the MNE Group. Download IRD Notice | PN/TP/2020-03 | Dated: 22.12.2020
Tax Payments & Returns due dates in the month of November 2021 Tax payments & Returns due Tax Payments & Returns due dates in the month of November 2021 dates and tax types & payment period codes for the month of November 2021 are as follows: NOVEMBER 15TH Advance Personal Income Tax (APIT) for the…
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.