Donations to COVID – 19 Healthcare and Social Security Fund that has been established to strengthen the mitigation activities aimed at controlling the spread of COVID-19 virus in the country and related social welfare programme have been exempted from taxes and foreign exchange regulations. Refer this link for more details.
Department of Inland Revenue has published a new Application Form for Tax Clearance (Outward Remittances). Download Application Form for Tax Clearance (Outward Remittances)
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…
Taking into account of the COVID – 19 pandemic situation in the country, importers and exporters of goods are requested to obtain Taxpayer Identification Number (TIN) and Value Added Tax Registration (temporary or permanent) through e-Services provided in Inland Revenue web portal. Download IRD Notice: PN/TPS/2021-02 | Dated: 03.03.2021
This circular provides clear instructions for Withholding Agents (WHA) on how to apply tax deductions under the Inland Revenue Act. These rules apply to specific payments that have a source in Sri Lanka. It replaces the older Circular No. SEC/2022/E/03, which is now officially terminated. Withholding Tax Rates at a Glance Depending on the type…
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
The government has issued a Finance (Amendment) Bill which amends section 36 of the Finance Act, No. 35 of 2018 and the legal effect of the section as amended is to terminate the levying of Debt Repayment Levy with effect from January 1, 2020. Download: English | Sinhala
Department of Inland Revenue has published a paper notice by taking into account of the prevailing situation in the country, all Divisional Secretaries and Liquor License Holders are informed to treat that the validity period of all Temporary Tax Clearance Certificates relating to liquor licenses (which will be expired before June 30, 2020) issued by…
The government has issued an amendment to the Value Added Tax Act No 14 of 2002. The Value Added Tax (Amendment) Act was certified on 31 March 2022 by the Hon. Speaker. Download Value Added Tax (Amendment) Act No. 13 of 2022 – English | Sinhala
Sri Lanka Customs has published a notice on Vehicle Entitlement Levy effective from 01.01.2019. Download Customs Notice
Note: This form to be submitted along with supporting documents (If any) to the Help Desk at the nearest IRD branch.
Department of Inland Revenue has published estimate Income Tax Return and Guidelines for the Y/A 2019/2020. Statement of Estimated Income Tax Payable Instructions for the Submission of Statement of Estimated Income Tax Payable
IRD Notice on Taxpayer Registration, Income Tax Payments and Furnishing Return of Income for the Year of Assessment 2019/2020. In accordance with the amendments to the Inland Revenue Act, No. 24 of 2017 passed in Parliament on the May 4, 2021; Resident individuals whose employment income was subjected to PAYE prior to January 1, 2020…
Department of Inland Revenue has published a list of VAT Registration inactivated persons as at 20.01.2020. Download List: PDF | Excel