Updated Schedules 6 & 7 for Exports
Department of Inland Revenue has uploaded updated Schedules 6 & 7 for Exports. Download Schedule 06 – Goods Export Schedule Download Schedule 07 – Service Export Schedule
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Extension for Tax on Terminal Benefits till June 30, 2021
Notice to ETF Board, Provident Funds and Employers who have retained the Tax on Terminal Benefits to Retiring Employees. Any amount retained by the Employees’ Trust Fund (ETF) Board, any Provident Fund or Employer (hereinafter referred to as the “Retainers”) as per the Guideline published by Circular No. SEC/2020/02 of the Commissioner General of Inland…
Tax Payments & Returns due dates in the month of June 2021
Tax payments & Returns due dates and tax types & payment period codes for the month of June 2021 are as follows: JUNE 15TH Advance Personal Income Tax (APIT) for the month of May 2021 is due on June 15, 2021. Individual who has already given the consent to the employer (company) to deduct Advance Personal Income Tax (APIT)…
Requirement of Tax Clearance Certificates for Outward Remittances
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
Colombo Port City Economic Commission Act
The Colombo Port City Economic Commission Act was passed in Parliament on the 19th of May 2021 and is pending certification by the Speaker. Download EY Analysis of Colombo Port City Economic Commission Act. Colombo Port City Economic Commission Act – English
IRD Notice on Taxpayer Registration, Income Tax Payments and Furnishing Return of Income for the Year of Assessment 2019/2020
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…
VAT (Amendment) Act No. 9 of 2021
The government has issued an amendment to the Value Added Tax Act No 14 of 2002. The Value Added Tax (Amendment) Act was passed in Parliament on 4 May 2021 and certified on 13 May 2021 by the Hon. Speaker. Download Value Added Tax (Amendment) Act No. 9 of 2021 – English | Sinhala EY Tax Alert | A Bill to…
Inland Revenue (Amendment) Act No. 10 of 2021
The government has issued an amendment to the Inland Revenue Act No 24 of 2017. The Inland Revenue (Amendment) Act was passed in Parliament on 4 May 2021 and certified on 13 May 2021 by the Hon. Speaker. This Amendment Act brings into law the Government budget proposals which were announced in November 2020 and other announcements made in…
Online Tax Payment Platform (OTPP)
Inland Revenue Department (IRD) has introduced an Online Tax Payment Platform (OTPP) with effect from 08.02.2020, in addition to the existing tax payment methods to make tax payment with the collaboration of below mentioned banks. In addition to the banks initially interfaced with IRD for this purpose, People’s Bank also provide OTPP facility and in…
IR and VAT Bills approved by the Parliament with amendments
Inland Revenue (Amendment) Bill and VAT (Amendment) Bill were approved by the Parliament today with amendments. Await for more details.
Tax Payments & Returns due dates in the month of May 2021
Tax payments & Returns due dates and tax types & payment period codes for the month of May 2021 are as follows: MAY 15TH Corporate Income Tax (CIT) 4th Instalment for the Y/A 2020/2021 is due on May 13, 2021 (Since May 14 & 15 falls on holidays). Online payment (OTPP) can be made until May…
IRD Notice on VAT Deferment Facility
Validity of the last issued extension letters with regard to Credit Vouchers (CV) due against the VAT deferred at the Customs/BOI under deferment facility, has been further extended up to 30 June 2021. Please note that this notice is issued with the awareness of the Director General of Customs and the Chairman of Board of…
IRD Notice on Temporary arrangements to provide services
Department of Inland Revenue has published a notice as temporary arrangements to provide services during the prevailing situation in the country. Download IRD Notice No: PN/TPS/2021-03
Pay As You Earn (PAYE)/ Advance Personal Income Tax (APIT) Return and Schedules
Pay As You Earn (PAYE)/ Advance Personal Income Tax (APIT) Return and Schedules for the Y/A 2020/2021 Return Annual Statement of Employer – APIT (YA 2020/2021) Guide Instructions to Complete the Annual Statement of Employer and Schedules Schedule – PDF Schedule 01 – For Remuneration Other than and Once and for all Payments Schedule 02…