Further Instructions to Alternative Tax Payment System (ATPS) through Online Fund Transfer Facility Further to the notices published on the above subject on 8th April 2020 PN/PMT/2020-1 and on 14th May 2020 PN/PMT/2020-3 the below instructions should be adhered when doing payments using online facilities provided by commercial banks. Only use the online payment facility to…
Circular to Commercial Banks and Specialized Banks – Furnishing of Tax Clearance Certificate to Banks Circular No. SEC/2017/05 [16 November 2017]
President provides relief in the face of Covid-19 on tax payments, based on that Income Tax & VAT payment due date has been extended up to 30 April 2020. Following questions and implications can be identified based on the above decisions: Income Tax Tax on employment income (PAYE/WHT) for the month of March is due on…
This bill amends section 3 of the Nation Building Tax Act, No. 9 of 2009 and the legal effect of the section as amended is to limit the period of application of the Nation Building Tax under the said Act to the period prior to December 1, 2019. Download: English | Sinhala
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…
NBT Bill was passed in Parliament on 23 October 2019 which is yet to be certified by the Hon. Speaker. 1.New Exemptions 1.1 Importation of any project related article by a BOI enterprise Importation of any project related article by an enterprise which has entered into an agreement with the BOI of Sri Lanka under section…
Ministry of Finance has issued a Gazette by amending the Finance (Teledrama, Film and Commercials Levy) Regulations, No. 1 of 2017, published in the Gazette Extraordinary No. 2044/21 of November 07, 2017. Download Gazette: 2168/9
“Tax Agent” means an agent who is appointed by the taxpayer to interact with the Commissioner General on behalf of such taxpayer to prepare returns and schedules in respect of any type of taxes administered by the Commissioner General for the purposes of e-Services. The persons who have obtained Taxpayer Identification Number (TIN), now you…
Taking into account the prevailing situation in the country (Covid -19 pandemic, Second wave), the following Tax Returns can be submitted up to the dates mentioned below without subjecting to late filing penalties as per the respective enactments. Compounded Stamp Duty Return for the quarter ending September 30, 2020 – Additional time allowed up to…
Department of Government Information has published Press Briefing on Cabinet Decisions on 04 June 2020 by exempting penalties of all income tax unpaid due to the COVID-19 pandemic. Accordingly, late payment charges will not be imposed for the payments made up to June 30, 2020. From July onwards, late payments will be fined. Download Press…
Budget 2018 – Imposition of Value Added Tax (VAT) for Sale of Condominium Housing Units The Supply of Condominium housing units will be liable for VAT with effect from April 1, 2018 as proposed in the Budget 2018. However, supply of Condominium housing unit will be exempted from VAT under the following cases; Sale of any…
The gazette has been issued regulations on Transfer Pricing under Inland Revenue Act No. 24 of 2017 – Gazette No. 2104/4. Download English Gazette No. 2104/4 Download Sinhala Gazette No. 2104/4
Notify under the Inland Revenue Act, that the “Lotus Hill Home for Disabled Children” as an approved Charity Organization Gazette No. : 2046/10
NBT Bill passed by the parliament together with Committee Stage amendment on 18 July 2018. Department of Inland Revenue has published a notice for the same on 20 July 2018. Relevant notice is attached above for your reference.