How to file PAYE Annual Declaration for the Y/A 2018/2019
Department of Inland Revenue has published a quick guide for “How to file PAYE Annual Declaration for the Y/A 2018/2019” Download PAYE quick guide
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Due date of submission of PAYE and WHT Returns extended
Department of Inland Revenue has extended due date of submission of PAYE Annual Declaration and WHT Return for the Y/A 2018/19 up to May 15, 2019. IRD Notice
Highlights on WHT Return and Schedules
The Department of Inland Revenue has now published in their website, the Withholding Tax Return, Schedule Templates and Guidelines applicable for the year of assessment 2018/2019, in terms of section 84 and 85 of the Inland Revenue Act No. 24 of 2017 and the Circular No. SEC/2018/06 published on 18 April 2018. Please find attached…
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.
Gazette to be released on Budget 2019
Following gazettes to be released on Budget 2019. DATE GAZETTE NO. DESCRIPTION DOWNLOAD 09-04-2019 2118/24 Luxury Tax on Motor vehicles Click here to download 04-04-2019 2117/48 Gazette Notification Issued under Excise (Special Provisions) Act to Release Vehicles Laying in Hambantota Port in 2015 – 2017 Click here to download 04-04-2019 2117/48 Application Specified in Schedule…
Withholding Tax Return and Guidelines – Year of Assessment 2018/2019
The Department of Inland Revenue has now published in their website, the Withholding Tax Returnand Guidelines applicable for the year of assessment 2018/2019, in terms of the provisions in the Inland Revenue Act No. 24 of 2017 and the Circular No. SEC/2018/06 published on 18 April 2018. Withholding Tax Return Guidelines to Fill the Statement…
Updated Schedule Verification Tool
WHT Annual Statement – Year of Assessment 2018/2019 is due on April 30, 2019 which is required to submit together with applicable WHT schedules. IRD has published “Updated Schedule File Verifier Tool” in order to verify the WHT schedules applicable under new IRA. Click on below link to Download and run the Updated Schedule File…
WHT Schedules applicable with effective from 01 April 2018
IRD has published WHT schedules applicable w.e.f. 01-04-2018 (Y/A 2018/2019) Schedule 1 – Withholding Tax Deduction from Interest / Discount Schedule 2A – Withholding Tax on Payments to Resident under Section 84 & 85 Schedule 2B – Withholding Tax on Payments to Non Resident under Section 84 & 85 Schedule 3 – Withholding Tax Deduction…
Embarkation Levy – Gazette No. 2116/62
With effective from 01 April 2019, Government has increased Embarkation Levy by USD 10 and new levy as follows; Person leaving Sri Lanka by aircraft – USD 60.00 Person leaving Sri Lanka by ship – USD 60.00 Download Embarkation Levy Gazette
Budget 2019 – Analysis
Budget 2019 Budget speech – 2019 – English | Sinhala | Tamil Analysis by Tax Professionals: EY | KPMG | PwC | Deloitte
Budget 2019 – Proposals on Betting and Gaming Levy
Betting and Gaming Levy (Amendments to the Betting and Gaming Levy Act, No.40 of 1988 Revision of Annual Levy Annual levy for carrying on the business of gaming other than playing rudjino will be revised to Rs. 400 million Annual levy for carrying on the business of playing rudjino will be revised to Rs.1 million…
Budget 2019 – Proposals on Ports and Airports Development levy
Ports and Airports Development levy With the view of promoting tourism sector and to reduce the upfront cost of local manufacturing industry, PAL on the items classified under HS Codes 0712.20.00, 0712.90.10 and 7801.10.00 will be reduced to 2.5%. The lapidary sector will be encouraged by the removal of PAL on the items classified under…
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…
Budget 2019 – Proposals on Economic Service Charge (ESC)
ESC to be imposed on all imports In terms of section 2 of the ESC Law, ESC is charged at a rate of 0.5%, inter alia, on the import of specified goods into Sri Lanka, mainly representing goods subject to the Special Commodity Levy, motor vehicles and gold. It has now been proposed in the…