Minister of Finance and Mass Media has been published a new gazette notification on Stamp Duty – License on sale of liquor. Effective Date: 01.01.2019 Base: License on sale of liquor Download Gazette [English | Sinhala]
Minister of Finance and Mass Media has been issued a new Gazette regulations for Levy on Mobile Short Message Services. Effective Date: 01.01.2019 Rate: 25 cents for each SMS Base: on bulk advertisements sent through SMS Liable person: Advertiser Collector: Mobile Telephone Operator Remittance to be made: Telecommunications Regulatory Commission (TRC) Payment Mode: Monthly Payment Due Date: on or before 15th day of…
The Finance Act No. 35 of 2018 imposes Carbon Tax in the following manner; Liable Persons: Registered owner of every motor vehicle Chargeable period: Every year (other than for the first year of registration of such motor vehicle) Effective Date: January 1, 2019 Applicable Rates: Payment Due Date: On or…
Sri Lanka Customs has published a notice on Vehicle Entitlement Levy effective from 01.01.2019. Download Customs Notice
Telecommunications Regulatory Commission has issued a letter on 09 November 2018 by confirming the rate reduction from 25% to 15% with effective from 10 November 2018 and requested to implement from all telecommunication service providers. Download Letter
Updated : December 5, 2018 Section 58A which relating to the Tourist VAT Refund Scheme (TVRS) shall come into operation from September 11, 2018 under the Value Added Tax Act, No. 14 of 2002 amended by the Value Added Tax (Amendment) Act, No. 25 of 2018. Gazette for effective date of Tourist VAT Refund Scheme (TVRS)…
In order to promote the agricultural production in the country for exports and consumption purposes the government has decided to provide 5 year tax exemption to the agricultural based small and medium industry In addition the annual income tax rate on processing industries using local agricultural commodities to be reduced from 28% to 14%. Download…
Value Added Tax shall be charged at zero rate (0% ) on the importation or supply of imported goods specified under H. S. Code and description published in the Gazette No. 2095/20. Download Gazette : English | Sinhala
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
The Tax Appeals Commission (TAC) which has been inactive for some time has now been revived with the reappointment of Justice Hector Yapa as Chairman and Justice Sunil Rajapakse and Mr. S. Swarnajothi Former Auditor General as members by Hon. Prime Minister Mahinda Rajapakse as the Minister of Finance and Economic Affairs. The TAC was established…
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…
An extract of a notice published in the Ministry of Finance website is quoted below for your information. PUBLISHED ON 2ND NOVEMBER 2018 Download His Excellency the President, and the Honorable Prime Minister and Minister of Finance and Economic Affairs have raised concerns regarding the serious setback in the economy as reflected in the persistently low…
‘‘Canadapura Children’s Home’’ is declared by the Minister by notice published in the Gazette to be an approved charity for the purposes of Section l (a) (ii) of Fifth Schedule of the Inland Revenue Act, No. 24 of 2017. Click here to download the Gazette
Department of Inland Revenue has issued a new public ruling on taxpayers who have been granted the approval to change the accounting period under the Inland Revenue Act No. 10 of 2006. Download the Public Ruling – PR/IT/2018/01