New Gazette (No. 2151/52) on VAT 8%
Ministry of Finance has published New Gazette on VAT changes with effect from 1 December 2019. Download Gazette 2151/52 – English Download Gazette 2151/52 – Sinhala
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Suspension of the Notice of Recovery of Tax out of Debts
Department of Inland Revenue has published notice by informing to all Commercial Banks under Section 180 of the Inland Revenue Act No.10 of 2006 and Section 44 of the Value Added Tax Act No.14 of 2002 to recover the taxes in default has been suspended until December 31, 2020. Therefore, the Banks are instructed to halt…
Statement of Estimated Income Tax Payable – Year of Assessment 2020/2021
Department of Inland Revenue has published followings on Estimated Income Tax Payable – Year of Assessment 2020/2021 which is due on August 15, 2020. Statement of Estimated Income Tax Payable [Set_E] Instructions for Completing the Statement of Estimated Tax
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…
New Double Tax Avoidance Treaty between the Government of Sri Lanka and the Government of Finland
The Bilateral Agreement for Prevention of Fiscal Evasion entered into on 06.10.2016, between the Government of Sri Lanka and the Government of Finland is now published by government. Download – English Download – Sinhala Download – Tamil
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)…
Amendments to Ports and Airports Development Levy w.e.f. December 06, 2019
New Gazette has been published to amend Ports and Airports Development Levy (PAL) w.e.f. December 06, 2019. Download Gazette on PAL changes
Services from the Customer Information Update Unit via e-Services or e-Mails
Taking into account the prevailing situation in the country, the temporary arrangements have been made to provide certain services through e-Services/e-Mails/telephone by the Inland Revenue Department. Refer to below the paper notice for more details. Download Paper Notice No: PN/TPS/2020-3 | Dated: 08.10.2020
Income tax exemption on interest accrued or derived from Special Deposit Account
Department of Inland Revenue has published a paper notice on income tax exemption on interest accrued or derived from Special Deposit Account. Download IRD Notice: PN/IT/2020-08 | Dated: 26.10.2020
Budget 2019 – Proposals on Income Tax
Income Tax (Amendments to the Inland Revenue Act, No.24 of 2017) Exemptions The Earnings by any non-resident person on any sovereign bond denominated in local or foreign currency will be exempted. Interest income earned by any resident person on sovereign bonds denominated in foreign currency, including Sri Lanka Development Bonds (SLDB) will be exempted. Interest…
Revised IRD Notice on Requirement of Tax Clearance Certificates for Outward Remittances
IRD has informed that the Notice issued on 08 April, 2020 under the reference No. PN/TC/2020-03 is still valid and all Commercial Banks & Authorized Dealers Engaged in Outward Remittances and the Persons who make Outward Remittances are kindly requested to adhere to the procedure sets out in said notice. Download IRD Notice No. PN/TC/2020-04 (Revised) | Dated: 03…
Withholding Tax from Investment returns
Department of Inland Revenue has published notice on Deduction of Withholding Tax from Investment returns with effect from 01 April 2018.
IRD Notice on recent NBT Amendment
Implementation of Changes to Nation Building Tax (NBT) as passed in Parliament on 23rd October 2019 IRD Notice on recent NBT Amendment
Tax Payments & Returns – September 2020
Tax payments & Returns due dates and tax types & payment period codes for the month of September 2020 are as follows: SEPTEMBER 15TH Advance Personal Income Tax (APIT) for the month of August 2020 is due on September 15, 2020. Individual who has already given the consent to the employer (company) to deduct Advance Personal Income Tax (APIT)…