Department of Inland Revenue has taken administrative arrangement to issue SVAT Credit Vouchers today (14th Wednesday) at ground floor of IRD Head Office and the same practice will continue for next Wednesday (21st) as well.
Department of Inland Revenue has published a sample format of Individual Income Tax Return and Guide to filling the Return & Schedules for the Y/A 2019/2020. Download: Return of Income – [Asmt_IIT_001_E] Schedules to Return of Income – [Asmt_IIT_002_E] Statement of Assets and Liabilities – [Asmt_IIT_003_E] Guide to filling the Return & Schedules – [Asmt_IIT_004_E]
Department of Inland Revenue has published “Interim Estimate of Value Added Tax on Supply of Financial Services – 2nd Six Months 2019/2020” today and you can download the Return form and schedule using the below links. Interim Estimate of Value Added Tax on Supply of Financial Services – 2nd Six Months of – 2019/2020 Schedules…
Department of Inland Revenue has published a paper notice (PN/DTR/2020-02) by in lining with the approval for “Tax Relief Measures to Facilitate Post COVID-19 Economic Recovery” granted by the Cabinet of Ministers on June 24, 2020, all the Banks are informed that the notices issued, if any, under Section 180 of the Inland Revenue Act…
As per the notice published by the Commissioner General of Inland Revenue, PAYE payment for the period from January 01, 2020 to March 31, 2020, WHT/AIT, APIT payments for the month of April 2020 and income tax (IT) 4th installment payment of the year of assessment 2019/2020 shall be made on or before May 15, 2020….
Loss on a financial instrument is occurred as the circumstance in which loss on a financial instrument set against the gain from same type of financial instrument.
As approved by the Cabinet of Ministers and instructed by the Ministry of Finance on December 31, 2019, pending formal amendment to the Inland Revenue Act No. 24 of 2017, WHT on service fee payable to any Resident Individual {whose payment made by any WHT Agent exceeding Rs. 50,000/- per month and deducted at 5%…
Tax payments & Returns due dates and tax types & payment period codes for the month of August 2021 are as follows: AUGUST 15TH Corporate Income Tax (CIT) 1st Instalment for the Y/A 2021/2022 is due on August 13, 2021 (Since August 14 & 15 fall on holidays), Online payment (OTPP) can be made until August…
Taking into account the prevailing situation in the country, the Inland Revenue Department has made arrangements to request the Tax Residency Certificates (TRC) via e-Mails. Download IRD Notice No. PN/TC/2020-05 | Dated: 08 Oct 2020
Department of Inland Revenue has published a quick guide on “How to File Value Added Tax on Financial Service (VATFS) Return”. Click here to Download the Guide
As per the amendments made to sub item (iv) of item (xxii) of paragraph (a) of the First Schedule to the Value Added Tax Act, No. 14 of 2002 (VAT Act) by the Value Added Tax (Amendment) Act, No. 25 of 2018, exemption granted on the import or supply of wood (sawn) from VAT is…
Based on the cabinet decision taken on 27.03.2018, Nation Building Tax (Amendment) [Issued on 31.05.2018] is under bill stage (I,e. Subject to enacted by the parliament). to amend the Nation Building Tax Act, No. 9 of 2009. Summary of the bill stated below. This amended is to limit the period of exemption granted to certain…
Taking into account the prevailing situation in the country, Customer Supporting & Promotion Unit of Inland Revenue Department (IRD) has made temporary arrangements to provide the services through e-Services, e-Mails and telephone calls. Download IRD Notice No. PN/TPS/2020-5 | Dated: 12 Oct 2020
Notice to Value Added Tax (VAT) Registration Inactivated Persons and General Public This is further to IRD notice published on December 27, 2019 under the caption “Inactivation of VAT Registration” As announced in the notice, VAT Registration of person of whose taxable supply has never exceeded Rs.75 million for any taxable period ended prior to…