Individuals who are liable to pay income tax (whose assessable income for a month exceeds Rs. 250,000 per month or Rs. 3,000,000 for a year of assessment), are required to register and obtain Taxpayer Identification Number (TIN) in order to pay Income Tax on a quarterly basis. There are two methods; Manually Online How to register manually (Due…
Taking into account the prevailing situation in the country due to the outbreak of Covid-19 virus, the Inland Revenue Department has taken the following steps to extend the project duration for SVAT purposes and to issue VAT registration (temporary and permanent). Extension of the project period in terms of section 22(7) of the Value Added…
Special Commodity Levy has been imposed on Potatoes and shall be valid until March 31, 2018 commencing from February 24, 2018. Download – English Download – Sinhala
‘‘Canadapura Children’s Home’’ is declared by the Minister by notice published in the Gazette to be an approved charity for the purposes of Section l (a) (ii) of Fifth Schedule of the Inland Revenue Act, No. 24 of 2017. Click here to download the Gazette
The Finance Act, No. 11 of 2006 – Regulations as the Finance (Teledrama, Film and Commercials Levy) No. 1 of 2017 Effective from : 08th November, 2017 English | Sinhala Gazette Date : 11 November 2017 Gazette No : 2044/21
Tax payments & Returns due dates and payment period codes for the month of July 2020 are as follows: Advance Personal Income Tax (APIT) for the month of June 2020 is due on July 15, 2020. Tax Type: 03 Period Code: 20060 WHT / AIT on Interest for the month of June 2020 is due…
Sri Lanka Customs has published a notice on Vehicle Entitlement Levy effective from 01.01.2019. Download Customs Notice
NEW INLAND REVENUE ACT – UNDER BILL STAGE Imposition of Income Tax for any year of assessment commencing on or after April 1, 2017. New Inland Revenue Act (Bill) – English New Inland Revenue Act (Bill) – Sinhala Issued on 19.06.2017
Department of Inland Revenue has uploaded updated Schedules 6 & 7 for Exports. Download Schedule 06 – Goods Export Schedule Download Schedule 07 – Service Export Schedule
As an exceptional measure with respect to Year of Assessment 2018/2019, and according to the Public Notice dated 17.12.2019, submission of the Transfer Pricing Disclosure Form (TPDF) has been allowed up to 31st March 2020. Department of Inland Revenue has published specified format and guidelines for the same. Download: Transfer Pricing Disclosure Form Guide to…
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…
Summary Section 22 of the Economic Service Charge Act, No. 13 of 2006 and the legal effect of the section as amended is to specify the base for charging the service charge for importation of motor vehicles. Schedule IV of the principal enactment and the legal effect of the section as amended is to specify…
Budget 2019 Budget speech – 2019 – English | Sinhala | Tamil Analysis by Tax Professionals: EY | KPMG | PwC | Deloitte
Following changes are going to be incorporated to Value Added Tax Act, No. 14 of 2002; Amendments to Section 22 – Local sale of certain garments by export oriented companies Amendments to Section 25A – Sri Lanka Deposit Insurance Scheme Amendments to Section 25C – To limit the taxable period New section 58A – Refund of tax…