Tax payments & Returns due dates and tax types & payment period codes for the month of March 2021 are as follows: MARCH 15TH Advance Personal Income Tax (APIT) for the month of February 2021 is due on March 15, 2021. Individual who has already given the consent to the employer (company) to deduct Advance Personal Income Tax (APIT)…
Department of Inland Revenue has published followings on Estimated Income Tax Payable – Year of Assessment 2020/2021 which is due on August 15, 2020. Statement of Estimated Income Tax Payable [Set_E] Instructions for Completing the Statement of Estimated Tax
Exempt amounts under third schedule of the inland revenue act no. 24 of 2017 Download Schedule 01 Code Table 19/20
Decisions Taken by Cabinet of Ministers on its meeting held on 07.05.2019 The Cabinet of Ministers approved the proposal presented by Hon. Eran Wickramarathne, Acting Minister of Finance, to provide a concessionary period for loans taken by those engaged in the tourism industry, provide them Capital Loan facilities under ‘Enterprise Sri Lanka’ program, reduction of…
As approved by the Cabinet of Ministers and instructed by the Ministry of Finance on December 31, 2019, pending formal amendment to the Inland Revenue Act No. 24 of 2017, WHT on service fee payable to any Resident Individual {whose payment made by any WHT Agent exceeding Rs. 50,000/- per month and deducted at 5%…
Tax payments & Returns due dates and tax types & payment period codes for the month of November 2020 are as follows: NOVEMBER 15TH Corporate Income Tax (CIT) 2nd Instalment for the Y/A 2020/2021 is due on November 13, 2020 (Since November 14th & 15th fall on holidays) Tax Type: 02 Period Code: 20212 Individual Income…
Finance Minister Mr. Mangala Samaraweera has posted a message on his Twitter account regarding tax concessions to strengthen the Tourism Industry affected by the Easter Sunday Attacks.
Department of Inland Revenue has amended the public notice (No. PN/VAT/2020-03) issued on 26-03-2020 as follows: VAT Deferment Facility on Imports at the Customs/BOI Validity of the last issued extension letters with regard to Credit Vouchers (CV) due against the VAT deferred at the Customs/BOI under deferment facility, has been extended up to 30th June,…
Department of Inland Revenue has published a paper notice by informing that the Alternative Tax Payment System (ATPS) which was introduced temporarily due to the Covid – 19 pandemic situation will be discontinued effect from March 31, 2021. However, tax payment could be made, Through Online Tax Payment Platform (OTPP) or (For further information, visit…
Foreign Exchange Bill passed in Parliament 2017-07-25 The amended Foreign Exchange Bill was passed in Parliament with a majority of 78 votes.
Based on the cabinet decision taken on 27.03.2018, Nation Building Tax (Amendment) [Issued on 31.05.2018] is under bill stage (I,e. Subject to enacted by the parliament). to amend the Nation Building Tax Act, No. 9 of 2009. Summary of the bill stated below. This amended is to limit the period of exemption granted to certain…
Department of Inland Revenue has published updated list of VAT Registration inactivated persons as at 30.01.2020. Download List: PDF | Excel
The Government has published bills to amend the Income Tax and VAT Act. These bills subject to pass by the parliament and certify by the Hon. Speaker. Income Tax Income Tax (Amendment) Bill – English Income Tax (Amendment) Bill – Sinhala VAT VAT (Amendment) Bill – English VAT (Amendment) Bill – Sinhala