Lanka Tax Club

Department of Inland Revenue has published updated VAT Inactive List as at 20-02-2019. Download Inactive VAT List as at 20-02-2019​​​​​​​​​​​​​​​​​​​​​​

Companies incorporated under the Companies Act No. 07 of 2007 Request letter Affidavit Copy of Business Registration Certificate Copy of Form 01 Copy of From 20 NIC or Passport copy of Director who signed request letter Letter of authorization NIC or Passport copy of authorized person Proprietorship / Partnership Request letter Affidavit Copy of Business…

The Agreement between Sri Lanka and the Government of Ukraine in respect of Taxation The proposal made by Hon. Mangala Samaraweera, the Minister of Finance & Mass Media to enter into the Agreement at the Government level which is initialed by now at official level, between Sri Lanka and Ukraine for the avoidance of double…

Eminent lawyer Dr. K. Kanag-Isvaran highlights need for Tax Ombudsman at CA Sri Lanka’s 22nd Annual Tax Oration President’s Counsel Dr. K. Kanag-Isvaran, who is one of the country’s most respected lawyers highlighted the need for a “Tax Ombudsman” in Sri Lanka while delivering the keynote speech at the 22nd Annual Tax Oration of CA…

We have developed PAYE tax automatic calculator in excel under Inland Revenue Act No. 24 of 2017. If you wish to purchase and for more details please contact us via info@lankataxclub.lk | Contact Us

Value Added Tax (VAT) exemption that was applicable on certain goods and services including importation of air crafts and accessories, sawn timber and fabrics and sale of condominium housing units has been removed under the Value Added Tax (Amendment) Act, No.25 of 2018. However, considering the requests made by the relevant stakeholders in these fields,…

As per the amendments made to sub item (iv) of item (xxii) of paragraph (a) of the First Schedule to the Value Added Tax Act, No. 14 of 2002 (VAT Act) by the Value Added Tax (Amendment) Act, No. 25 of 2018, exemption granted on the import or supply of wood (sawn) from VAT is…

Any dividend paid to be shareholder of any company prior to April 01, 2019, out of any such dividend received by that company from any other company on which WHT 10% had been deducted prior to April 01, 2018 in accordance with the provisions of the Inland Revenue Act, No. 10 of 2006, such dividend…

Department of Inland Revenue has published Pay As You Earn (PAYE) Tax Calculator for Year of Assessment 2018/2019 which can be used for PAYE tax annual declaration purpose. Download PAYE Tax Calculator_1819_V1_E.

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