How to compute income tax payable for the Y/A 2018/2019 who has obtained the approval for calendar year basis ? Taxpayers who have obtained the approval to make up their accounts for calendar year basis, the ascertainment of Income Tax payable for the year of assessment 2018/2019 has to be computed following manner; For…
The new amendment to Ports and Airports Development Levy Act on rate revision. The key revisions are as follows; Items subject to a rate of 2.5%, will be subject to an increased rate of 5%; Items subject to a rate of 5%, will be subject to an increased rate of 7.5%; Specified items will be exempted…
Following taxes or other levies are not deductible when calculating a person’s income under New Inland Revenue Act. Income Tax Economic Service Charge Value Added Tax on Financial Services Nation Building Tax on Financial Services Crop Insurance Levy Supper Gain Tax Bars and Taverns Levy Casino Industry Levy Mobile Telephone Operator Levy Satellite Location Levy…
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
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Download and run the Schedule File Verifier Tool to verify your schedules (VAT/SVAT/PAYE/WHT/CIT/IIT/PIT) before submitting to IRD via E-filing. Download Link (Version – 5.3) – 14 January 2020 Guide for “How to use the schedule verification tool”
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
Notify under the Inland Revenue Act, that the “Lotus Hill Home for Disabled Children” as an approved Charity Organization Gazette No. : 2046/10
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
Join EY’s 20th Post Budget Conference 2020 LIVE on Microsoft TEAMS. To receive the event invite send your joining instructions here: https://cvent.me/7kWk94 FREE ENTRANCE / REGISTRATION
The Commissioner General of Inland Revenue has published a Gazette notification specifying the Capital gain tax return and schedules to be furnished by any person in respect of income consisting of a gain from the realization of an investment asset under Subsection (4) of Section 93 of the Inland Revenue Act, No. 24 of 2017.
Followed by a proposal made by H.E the President, the approval of the Cabinet was granted at its meeting held on the 2019‑11‑27 for the introduction of a simple, transparent and efficient tax system to all the stakeholders in the economy including consumers, working population, entrepreneurs and tax paying community. Morefully, the Government has also…
Section 25, read together with Section 32 of the Excise Ordinance (Chapter 52), as amended with the license fees for toddy tapping with effect from April 16, 2018.
Department of Inland Revenue has published the updated list of SVAT Registered Identified Suppliers (RISs) and Registered Identified Purchasers (RISs) as at 08th July 2019. List of Registered Identified Suppliers (RISs) [08-07-2019] List of Registered Identified Purchasers (RIPs) [08-07-2019]