Surcharge Tax Return and Guide
Department of Inland Revenue has published Surcharge Tax Return and Guide. Surcharge Tax Return Surcharge Tax Return Guide Click here to refer to Surcharge Tax
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Tax Payments & Returns due dates in the month of July 2022
Tax payments & Returns due dates and tax types & payment period codes for the month of July 2022 are as follows: JULY 15TH Advance Personal Income Tax (APIT) for the month of June 2022 is due on July 15, 2022. Individual who has already given the consent to the employer (company) to deduct Advance Personal Income Tax (APIT)…
Gazette on New VAT Rate 12% w.e.f. 01 June 2022
Minister of Finance has published a gazette notification on VAT rate change on the following. Order declares that : The Value Added Tax shall be charged ; On import of goods set out in the H. S. Code and description specified in Column I and II of Schedule of the Extraordinary Gazette Notification No. 2095/20…
Proposed Tax Reforms 2022
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
MBA in Taxation (PIM-USJP) – Applications are closing on 03rd June 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…
Surcharge Tax Act No. 14 of 2022
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
VAT (Amendment) Act No. 13 of 2022
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
Special Goods and Services Tax Bill – 2022
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…
Value Added Tax (Amendment) Bill – 2022
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
No penalties for submission of Income Tax Return for the Y/A 2020/2021
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…
Budget 2022 Analysis
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 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…
Now e-Service is available for filing CIT, IIT & PIT Returns Y/A 2020/2021
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 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…