Department of Inland Revenue has extended VAT Deferment Facility on Imports at the Customs/BOI and Temporary VAT registration till 31 December 2020 based on the prevailing situation of the country. Download IRD Notice No.: PN/VAT/2020-13 | Dated: 06 Oct 2020 Previous Paper Notice No: PN/VAT/2020-11 | Dated: 30 July 2020
In addition to the notice issued under PN/Tax Return/2020-01 on 21.04.2020 allowing extension for submission of Transfer Pricing Disclosure Form (TPDF) has been allowed up to 30th June, 2020. Taxpayers who have submitted the Tax Return through e-service could upload the TPDF to the RAMIS system, and others are advise to e-mail a PDF copy of the…
Department of Inland Revenue has published a Sample Format of Individual Income Tax Loss Adjustment Sheet – 2018/2019. Download – Sample Format of Individual Income Tax Loss Adjustment Sheet – 2018/2019
As you are already informed by the Inland Revenue Department (IRD) by its notice under the reference No. PN/IT/2020 – 03 (Revised) dated 08.04.2020 published in line with the instructions issued by the Ministry of Finance, subject to formal amendments to the Inland Revenue Act, No. 24 of 2017 (IRA), mandatory requirement under Section 83…
New Gazette has been published to amend Ports and Airports Development Levy (PAL) w.e.f. December 06, 2019. Download Gazette on PAL changes
Department of Inland Revenue has updated Declaration Form which is required to submit by Senior Citizens to the Financial Institutions. Updated Circular – Withholding Tax on Interest paid by Banks or other Financial Institutions – No. SEC/2018/01 Download – English Download – Sinhala Updated Declaration Form – Declaration by Senior Citizens to the Financial Institutions Download –…
Implementation of Changes to Nation Building Tax (NBT) as passed in Parliament on 23rd October 2019 IRD Notice on recent NBT Amendment
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
Department of Inland Revenue has published New Circular No. SEC/2018/06 (by withdrawing the Circular No. SEC/2018/05) to Withholding Agents – Withholding from Payment made under Section 84 and 85 of the Inland Revenue Act No. 24 of 2017
Implementation of Changes to Value Added Tax (VAT) as passed in Parliament on 23rd October 2019 IRD Notice on recent VAT Amendment
As approved by the Cabinet of Ministers and instructed by the Ministry of Finance, Value of taxable supplies for the purpose of registration for VAT (VAT registration threshold) will be increased with effect from January 01, 2020, up to 75 million rupees per quarter or 300 million rupees per annum subject to formal amendments to…
Key Tax Proposals – Imposition of New Taxes Surcharge Tax It has been proposed to introduce a Surcharge Tax at the rate of 25% on individuals or companies, whose taxable income exceeds LKR 2,000 Mn for the year of assessment 2020/2021. This proposal has been introduced as one-time tax charge to the taxpayers. Social Security Contribution It…
Department of Inland Revenue has published updated list of VAT Registration inactivated persons as at 28.01.2020. Download List: PDF | Excel
Department of Inland Revenue has published notice by taking into the account of the prevailing situation in the country, Submission of Transfer Pricing Disclosure Form (TPDF) has been allowed up to 30th April 2020. Taxpayers who have access to the e-Services, can submit TPDF through e-service and others can send PDF copy of the TPDF…