Customs Notice on VAT & NBT change
Department of Customs has published a notice on VAT & NBT change. Download Custom Notice on VAT & NBT
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Primary Employment Declaration Form (PED)
Download Form Every employee is required to furnish Primary Employment Declaration Form, to the employer nominating his primary employment under New IRA. A declaration must be signed and dated by the employee and the employer, and may relate to one or more years of assessment. An employee must not have more than one primary…
Apply for Blanket Clearances up to 31/03/2018
Now Taxpayers can apply [from Inland Revenue Department – International Unit] for Blanket Clearances up to 31/03/2018 (Before the new law comes into force) on following outward Remittances- Commission Payments Brokerage Payments Interest Payments (Loan obtained after 01 April 2012) Re-insurance Payments (For Double Tax Treaty Countries)
Pay As You Earn (PAYE) Tax Calculator for Year of Assessment 2018/2019
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.
A person who filed a Tax Return electronically (via e-Service) for the Y/A 18/19 shall continue to file Tax Returns in that manner
The IRD has informed that the taxpayers who had e-Filed the Return of Income for the last Year of Assessment (2018/ 2019), should e-File their Returns of Income for this year. Further, Returns of Income of such taxpayers have neither been printed nor posted for manual submission. IRD highly promotes all other taxpayers as well…
New amendment to Inland Revenue Act
Inland Revenue Amendment Bill has been published by incorporating proposed changes to the Inland Revenue Act, No. 24 of 2017. Download – English | Sinhala
Circular on Paying of Value Added Tax (VAT) to the Suppliers
Departments of Inland Revenue has published a circular on paying of Value Added Tax (VAT) to the suppliers. Download
IRD Notice on NBT Change
As instructed by the Ministry of Finance and approved by the Cabinet of Ministers, NBT has been abolished with effect from December 01, 2019, pending parliamentary approval for amendment to the Nation Building Tax Act, No. 9 of 2009. However, any person/partnership who/which engages in the business of processing of any locally procured agricultural produce in…
Certificate of Tax Deductions – T10
Department of Inland Revenue has published Certificate of Income Tax Deductions prescribed under Section 87 of the Inland Revenue Act, No. 24 of 2017. Certificate of Income Tax Deductions - Primary Employment – (PAYE/T10(new)) Certificate of Income Tax Deductions - Secondary Employment – (PAYE/T10(new)/D)
Special Commodity Levy on Mackerel, Peas, Seeds etc
Special Commodity Levy has been imposed on Mackerel, Peas, Seeds etc and shall be valid for a period of 06 months commencing from March 08, 2018. Download – English Download – Sinhala
Further Extension of VAT Deferment Facility & Temporary Registration
Department of Inland Revenue has published a public notice by amending the public notice number PN/VAT/2020-05 issued on 28.04.2020 as follows. VAT Deferment Facility on Imports at the Customs/BOI Validity of the last issued extension letters with regard to Credit Vouchers (CV) due against the VAT deferred at the Customs/BOI under deferment facility, has been…
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…
Public ruling on deducting Withholding Tax from the service provided by individuals – PR/IT/2018/02
Download – Public Ruling – PR/IT/2018/02 (10/05/2019) Department of Inland Revenue has published public ruling on deducting of Withholding Tax from the service provided by individuals. If the monthly payment exceeds Rs. 50,000/-, WHT should be deducted on the total amount Similar services and similar services or connected work – Include only services which are similar…
Special Commodity Levy on Rice
Special Commodity Levy has been imposed on rice and shall be valid until March 31, 2018 commencing from January 01, 2018. Download – English Download – Sinhala