Economic Service Charge (ESC) – ආර්ථික සේවා ගාස්තු ESC is levied under ESC Act No.13 of 2006 [as amended by the ESC (Amendment) ActNo.15 of 2007, No.11 of 2008, No.16 of 2009, No.11 of 2011, No.11 of 2012, No.6 of 2013, No. 9 of 2014, No.13 of 2015 and No.7 of 2017, respectively]. CHARHEBILITY…
Department of Inland Revenue has published Guide to Corporate Tax Return of Income – Year of Assessment 2018/2019 Download English Guide Download Sinhala Guide
The Circular SEC 2022/E/05 (Rev) issued by the Inland Revenue Department (IRD) of Sri Lanka provides guidance on the quantification of values for non-cash benefits in calculating employment income for tax purposes. The circular defines non-cash benefits as any benefit provided by an employer to an employee, other than cash, that has a monetary value….
WHT Annual Statement – Year of Assessment 2018/2019 is due on April 30, 2019 which is required to submit together with applicable WHT schedules. IRD has published “Updated Schedule File Verifier Tool” in order to verify the WHT schedules applicable under new IRA. Click on below link to Download and run the Updated Schedule File…
Department of Inland Revenue has published a notice Taxpayer Registrations and Updates on 01.06.2020 No.: PN/TPS/2020-1. Maintaining of completed and updated taxpayer profile is helpful in complying with tax related matters and regulations without undue hassle. Moreover, obtaining the relevant services through e-Services enables you to avoid personally visiting the department on multiple occasions. It is essential…
A Bill has been drafted by the legal draftsman to amend the Inland Revenue Act, No.24 of 2017, and the Value Added Tax Act, No.14 of 2002 in order to implement tax reforms adduced by the Economic Revival Origins presented to introduce a simple, transparent and an effective tax System as pledged by His Excellency…
Department of Inland Revenue has published a quick guide for “How to file PAYE Annual Declaration for the Y/A 2018/2019” Download PAYE quick guide
Department of Inland Revenue has published a notice as per the approval granted by the Cabinet of Ministers and instructed by the Ministry of Finance on April 24, 2020, the supply of services in respect of inbound tours by a travel agent registered with the Sri Lanka Tourism Development Authority is exempt from Value Added…
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
The Tax Appeals Commission (TAC) has requested from Commissioner General of Inland Revenue (CGIR) to make aware the Taxpayers who are aggrieved by the determinations of the CGIR and could not lodge an appeal to the TAC against such determinations within thirty (30) days in terms of section 7(2) of the TAC Act No. 23…
The Excise Notification No. 994 published in the Gazette Extraordinary No. 1998/7 dated 20 December 2016 is hereby rescinded and amend the Excise Notification No. 992 published in the Gazette Extraordinary, No. 1997/16 dated 15.12.2016 by substitution of Schedule I of the Excise Notification No. 1004 with effect from 01 January 2018. Excise Notification No. 1004 – Annual…
Tax payments & Returns due dates and tax types & payment period codes for the month of December 2020 are as follows: DECEMBER 15TH Advance Personal Income Tax (APIT) for the month of November 2020 is due on December 15, 2020 – Individual who has already given the consent to the employer (company) to deduct Advance Personal Income Tax…
Sri Lanka Customs has published a notice on Vehicle Entitlement Levy effective from 01.01.2019. Download Customs Notice
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…