Lanka Tax Club

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

Department of Inland Revenue has published a circular to Banks / Financial Institutions – Withholding Tax on Interest paid by Banks or other Financial Institutions Download Circular No. SEC/2019/04 [27 December 2019]

Ernst & Young has published Tax Alert on proposed changes to Income Tax. Download EY Tax Alert

Ministry of Finance has issued a Gazette by amending the Finance (Teledrama, Film and Commercials Levy) Regulations, No. 1 of 2017, published in the Gazette Extraordinary No. 2044/21 of November 07, 2017. Download Gazette: 2168/9

Minister of Finance, Economic and Policy Development has issued a gazette notification under the following; The Special Import License and Payment Regulations No. 1 of 2011 published by the Gazette Extraordinary No. 1739/3 dated January 02, 2012 is amended hereby removing the Regulation 3(1) b, 3(1) c, 11 and 12. Sri Lanka Customs and Commercial…

Department of Inland Revenue has published notice on Deduction of Withholding Tax​ from Investment returns with effect from 01 April 2018.

Special Commodity Levy has been imposed on Maize and shall be valid for a period of 31 days commencing from 01 February 2018. HS code: 1005.90- Rs. 10.00 per kg Download – English Download – Sinhala Download – Tamil

NBT Bill was passed in Parliament on 23 October 2019 which is yet to be certified by the Hon. Speaker. 1.New Exemptions 1.1 Importation of any project related article by a BOI enterprise Importation of any project related article by an enterprise which has entered into an agreement with the BOI of Sri Lanka under section…

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…

Due to the current situation, you can submit appeals and objections via e-Service under “Approver Login” and at the same time, the system will issue an acknowledgment on the same. Taxpayers who do not have access to e-Services (RAMIS), can send an email to the below email addresses with a scanned copy of the appeal…

Department of Inland Revenue has published following application forms. Application Form for Confirmation of VAT Liability Application Form for Tax Clearance on Other Purpose

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…

IRD Notice to the Licensed Commercial Banks and Authorized Dealers Engaged in Outward Remittances and the Persons who make Outward Remittances. Download IRD Notice No: PN/TC/2021-02 | Dated: 24.05.2021