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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Advance Personal Income Tax (APIT)
As you are already informed by the Inland Revenue Department (IRD) by its notice under the reference No. PN/IT/2020 – 03 (Revised) dated 08.04.2020 published in line with the instructions issued by the Ministry of Finance, subject to formal amendments to the Inland Revenue Act, No. 24 of 2017 (IRA), mandatory requirement under Section 83…
Statement of Estimated Tax Payable (SET) can be submitted via e-Service (Online)
Department of Inland Revenue is now accepting Statement of Estimated Tax Payable (SET) via e-Service with effective from the Y/A 2021/2022. Statement of Estimated Tax Payable (SET) is due on 15 August 2021 for the first quarter ended 31 June 2021 for the YA 2021/2022. Click here to Download Quick Guide Publish by the Department of…
Simplified Value Added Tax (SVAT) Scheme in Sri Lanka
Simplified Value Added Tax (SVAT) Scheme in Sri Lanka By Kokila Mudugamuwa The Simplified Value Added Tax (SVAT) scheme was introduced by the Department of Inland Revenue in Sri Lanka on April 1, 2011, under the Value Added Tax Act. The primary objective of SVAT is to eliminate the need for VAT refunds for eligible…
Notice on Online Tax Registration
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
How to activate VAT Registration
Further to the IRD Notice on “Voluntary Registration for VAT”, Any person who wishes to continue the VAT Registration (whose Registration is inactivated) should make submission along with following documents. Application for activation of VAT Registration Request letter which should be signed by a Director (In the case of Company) or Proprietor (Sole Proprietorship) or…
Cabinet announces several tax reliefs
The Cabinet has given its approval to remove the Nation Building Tax (NBT), Pay As You Earn (PAYE) Tax and Withholding Tax on interests, the Co-Cabinet Spokesperson Ministers Bandula Gunawardana said today.He mentioned this during the first press briefing to announce the decisions of the new government’s Cabinet of Ministers. It took place at the…
List of VAT Inactivated persons as at 30 January 2020
Department of Inland Revenue has published updated list of VAT Registration inactivated persons as at 30.01.2020. Download List: PDF | Excel
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…
Implementation of Proposed Changes to the Inland Revenue Act No. 24 of 2017
Department of Inland Revenue has published a notice (PN/IT/2020-03) on 12 February 2020 pertaining to changes proposed to the Inland Revenue Act, No. 24 of 2017. These changes mainly relate to the following: Removal of Withholding Tax (WHT) on the payments made to Resident Persons WHT on the payments made to Non-Resident Persons Revision of Income…
Custom clearances to go paperless from 2018
Daily FT : 11 October 2017 Digital signature, trade information portal and several key functions to be effective from next year, Single Window blueprint ready for July 2018 On track to achieve Govt. revenue target of Rs. 1 trillion Customs DG keen on enhancing efficiency with technology, people-less offices In a major boost to streamline trade, Sri…
Exempt amounts under third schedule of the Inland Revenue Act No. 24 of 2017
Exempt amounts under third schedule of the inland revenue act no. 24 of 2017 Download Schedule 01 Code Table 19/20
No change in 15% interest given to Senior Citizens’ Savings Accounts
Notice published by the Ministry of Finance on 06 August 2019 Although the Central Bank has reduced the rates for deposits maintained in commercial banks, the special interest rate of 15% offered by the Government for senior citizens have not been changed. There is no truth in the media reports published by different media saying…
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…