Prime Minister’s Media Division has published Proposed Tax Reforms in 2022 which are effective from 01 October 2022 other than the following: VAT Rate change from 8% to 12% Telecommunication Levy change from 11.25% to 15% Download the details version of the proposed Tax Reforms in 2022
Apply Online: Link (Applications are closing on 03rd June 2022) Visit PIM MBA in Taxation programme page: Click here Who Can Apply Eligibility to apply for admission to the MBA-T Degree programme is determined according to the following criteria: One of the following qualifications: A Bachelor’s Degree, from a recognized university with at…
The government has published the Surcharge Tax Act No. 14 of 2022. The Surcharge Tax Act No. 14 of 2022 was certified on 08 April 2022 by the Hon. Speaker. Download Surcharge Tax Act No. 14 of 2022 – English | Sinhala
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
This is to provide for the imposition of a special goods and services tax, in lieu of the sums chargeable on such specified goods and services by way of tax, duty, levy, cess or any other charge imposed by law; to promote self-compliance in the payment of taxes in order to ensure greater efficiency in…
This amendment is to increase the VAT rate from 15% to 18% per centum on supply of financial services on financial institutions with effect from January 1, 2022 and to exempt certain goods and services from VAT in order to give effect to budget proposals of 2022. Download Bill – English | Sinhala
According to the provisions of the Inland Revenue Act, No. 24 of 2017 (IRA), every person who is liable for Income Tax shall file a Return of Income not later than eight months after the end of each Year of Assessment. Therefore, last date to furnish the Return of Income for the year of assessment…
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…
Tax Payments & Returns due dates in the month of November 2021 Tax payments & Returns due Tax Payments & Returns due dates in the month of November 2021 dates and tax types & payment period codes for the month of November 2021 are as follows: NOVEMBER 15TH Advance Personal Income Tax (APIT) for the…
Electronic filing facility through e-service is available for filing the Return of Income for Companies, Partnerships and Individuals. A Company or a Partnership or an Individual should have a Personal Identification Number (PIN) and also a Company or a Partnership should have a Special Staff Identity Number (SSID) or SSID numbers for e-filing. Download IRD…
Tax Payments & Returns due dates in the month of October 2021 Tax payments & Returns due Tax Payments & Returns due dates in the month of October 2021 dates and tax types & payment period codes for the month of October 2021 are as follows: OCTOBER 15TH Advance Personal Income Tax (APIT) for the…
Tax Payments & Returns due dates in the month of September 2021 Tax payments & Returns due Tax Payments & Returns due dates in the month of September 2021 dates and tax types & payment period codes for the month of September 2021 are as follows: SEPTEMBER 15TH Advance Personal Income Tax (APIT) for the…
Department of Inland Revenue has published a paper notice on Receipt of Inward Remittances for Exports and Adjustment of Input Value Added Tax (VAT). Download Paper Notice No: PN/VAT/2021-06 | Dated: 05.08.2021
Tax payments & Returns due dates and tax types & payment period codes for the month of August 2021 are as follows: AUGUST 15TH Corporate Income Tax (CIT) 1st Instalment for the Y/A 2021/2022 is due on August 13, 2021 (Since August 14 & 15 fall on holidays), Online payment (OTPP) can be made until August…