Where a person conducting a banking business makes specific provision for a debt claim in accordance with the relevant directives made by the Central Bank of Sri Lanka, subject to conditions as set out in the gazette (attached). No provision made in respect of potential risk of credit facilities in accordance with the relative directives made…
The interest and repayment of capital under subsections (1) and (2) of section 31 of the Inland Revenue Act, No. 24 of 2017, shall be calculated as if the loan were a blended loan with interest compounded six-monthly or other period which is considered by the generally accepted accounting principles.
Loss on a financial instrument is occurred as the circumstance in which loss on a financial instrument set against the gain from same type of financial instrument.
The Inland Revenue Act, No. 10 of 2006 shall not apply to any income tax, for any year of assessment commencing on or after April 1, 2018, unless otherwise stated in the Inland Revenue Act, No. 24 of 2017 or as regulated in the succeeding provisions.
Gazette on the Services are prescribed for the purpose of subparagraph (v) of paragraph (a) of subsection (1) of section 85, as being the services rendered with a source in Sri Lanka and is paid to a resident individual.
Exemption and concessionary rate of 2.5% for Ports and Airports Development Levy on import of each article specified in the gazette (Attached).
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
This set of guides, which explains very briefly the main provisions of the Inland Revenue Act No. 24 of 2017 (the Act) which provide the Department’s view point of the legal provisions and guidance to the general public and the taxpayers. It is intended to issue a Manual of Income tax providing comprehensive information and…
Section 2 of the Special Commodity Levy Act, No. 48 of 2007, impose in respect of the list of commodities specified in Column I of the Schedule hereto, a Special Commodity Levy at the rates specified in the corresponding entries in Column II of the Schedule in the attached gazette above. This Order shall be valid…
Section 2 of the Special Commodity Levy Act, No. 48 of 2007, impose, in respect of the list of commodity specified in Column I of the Schedule hereto a Special Commodity Levy, at the rate specified in the corresponding entry in Column II of Schedule in the gazette attached above. This Order shall be valid for a…
Section 25, read together with Section 32 of the Excise Ordinance (Chapter 52), as amended with the license fees for toddy tapping with effect from April 16, 2018.
Gazette notification under Paragraph (e)(iii) of the Third Schedule of the Inland Revenue Act, No. 24 of 2017- official emoluments of any individual who is employed by the Asian Development Bank.
Individuals other than who are in employment Resident employee who has furnished the Primary Employment Declaration* to Employer (Employee who is Resident & Citizen / Non-Citizen) Employee who is Non-Resident and Non-Citizen Any employee who has not furnish the primary employment declaration, or any employee employed under more than one employer * Primary Employment Declaration Form Every…
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…