National Insurance Trust Fund (NITF) has published a notice on Crop Insurance levy for the Quarter ended 31 March 2020. Due to the current situation of the Country (COVID-19), NITF has requested to make payment online (fund transfer) and send the duly filled Return via email (Refer the attached notice for more details). Download the Notice…
ALL TAXES IN SHORT – TODAY AT 8:00 PM (13 SEPTEMBER 2023) 📌 Individual Income Tax (IIT), Corporate Income Tax (CIT), Partnership Income Tax (PIT), Value Added Tax (VAT), Simplified Value Added Tax (SVAT), VAT on Financial Service (VAT FS), Advance Income Tax (AIT), Capital Gain Tax (CGT), Stamp Duty (SD), Share Transaction Levy (STL),…
As per the section 195 of the Inland Revenue Act, No. 24 of 2017, “Authorized Representative” means any individual who is authorized in writing by a person to act on his behalf from time to time for the purposes of this Act and who is – (a) in any case- a member of the Institute of…
Department of Inland Revenue has published a Notice for by instructing companies to compute the income tax payable (subject to the provisions of the IRA) for the Year of Assessment 2019/2020. Download IRD Notice PN/IT/2020-06 (06.05.2020): English | Sinhala
The Inland Revenue Department (IRD) of Sri Lanka has issued a critical notice for VAT registered persons who have faced difficulties in obtaining Credit Vouchers for the clearance of deferred VAT at Customs. This issue has primarily arisen due to the issuance of Estimated Assessments on Value Added Tax (VAT) Returns. To address this, the…
Tax payments & Returns due dates and tax types & payment period codes for the month of September 2020 are as follows: SEPTEMBER 15TH Advance Personal Income Tax (APIT) for the month of August 2020 is due on September 15, 2020. Individual who has already given the consent to the employer (company) to deduct Advance Personal Income Tax (APIT)…
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…
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.
The government has taken tax concessionary actions for the post COVID – 19 economic uplifting programme. Download Cabinet Decisions – 2020.06.24
Further Instructions to Alternative Tax Payment System (ATPS) through Online Fund Transfer Facility Further to the notices published on the above subject on 8th April 2020 PN/PMT/2020-1 and on 14th May 2020 PN/PMT/2020-3 the below instructions should be adhered when doing payments using online facilities provided by commercial banks. Only use the online payment facility to…
Departments of Inland Revenue has published a circular on paying of Value Added Tax (VAT) to the suppliers. Download
Updated on 29 March 2018 In terms of Section 83 of the Inland Revenue Act No. 24 of 2017, Every Employer is required to deduct income tax from the gains and profits from employment of each employee, liable to pay income tax at the time such remuneration is paid or credited. For this purpose the Commissioner…
Department of Inland Revenue has published an updated VAT Quick Guide by including instructions on newly introduced VAT schedules on Export of Goods and Services. VAT Schedule 06 : Article Export VAT Schedule To understand more about the structure of the VAT schedule 06 file, what the individual fields mean and the naming convention required,…