Notice on Filing of Country by Country Report (CbCR) of the MNE Group
Department of Inland Revenue has published a notice on Filing of Country by Country Report (CbCR) of the MNE Group. Download IRD Notice | PN/TP/2020-03 | Dated: 22.12.2020
Read More
Extension for validity of Outward Remittance Clearances issued for covering specified period of time
Taking into account the prevailing Covid-19 pandemic situation in the country, the Commercial Banks, Authorized Dealers engaged in outward remittances and the person who make the outward remittances are hereby informed to treat that the validity of Outward Remittance Clearances issued for covering specified period of time (which are expiring on or after December 31, 2020) by…
PAYE and WHT Returns can be submitted until 31 January 2021 without penalties.
Taking into consideration of Covid-19 pandemic situation it was made possible to submit the said statements up to 31.12.2020 without subject to penalties. Considering the requests of the withholding agents due to difficulties still existing to submit, they are informed that penalties for failure to file the statement on time as provided in the IRA…
Tax Payments & Returns due dates – December 2020
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…
Further clarifications on Transfer Pricing Information in Relation to the Return of Income Year of Assessment 2019/2020
Applicability of Transfer Pricing regulations due to the implementation of newly proposed changes of concessionary tax rates and / or tax exemptions. Download IRD Notice No. PN/TP/2020-02 | Dated: 25 November 2020
The IRD announces plans to repeal Master File and CbCR requirements
Considering the prevailing COVID19 pandemic in the country and the multiple requests made by the stakeholders to the Ministry of Finance, the requirements to submit the TP documentations of Master Files and Country by Country Report (CbCR) for the Year of Assessment 2019/2020, in terms of Regulations of the TP Gazette No 2104/4 dated December…
Extension of Time to Remit Tax to the Inland Revenue Department
Notice to ETF Board, Provident Funds and Employers who have retained the Tax on Terminal Benefits to Retiring Employees; Any amount retained by the ETF Board, any Provident Fund or Employer, as income tax on terminal benefits due for the retiring employees for which such employees were required to produce a Direction from the IRD…
Exempt amounts under third schedule of the Inland Revenue Act No. 24 of 2017
Exempt amounts under third schedule of the inland revenue act no. 24 of 2017 Download Schedule 01 Code Table 19/20
List of Codes for Special Tax Rates 19/20
Code for Tax Rate which are applicable to fill the return of Income Year of Assessment -2019/2020 Download the List of Codes for Special Tax Rates 19/20 >>
Budget 2021
Budget speech 2021 and budget analyses. Budget Speech 2021 Budget Speech (Including Technical Notes): English | Sinhala | Tamil Budget 2021 analyses Ernst & Young: Sri Lanka 2021 budget proposals – at a glance KPMG: Budget Analysis 2021 Deloitte: Budget Highlights 2021 Kreston: Budget Proposals 2021 CA Sri Lanka Budget Highlights 2021
Customs changes on Budget 2021
Customs changes on Budget 2021 are as follows; 2021 Budget Import Cess Letter 2021 Budget Import Cess Annexure Order under Section 14 of Sri Lanka Export Development Act No. 40 of 1979 Revenue Protection Order No.08.2020 published under Revenue Protection Act No. 19 of 1962 Special Commodity Levy Act No. 48 of 2007
Customer Information Update via IRD e-Services
Taking in to account the prevailing situation in the country, the services of the Customer Information Update Unit can be availed via IRD e-Services. Download IRD Notice No. PN/TPS/2020-3 (Amended) | Dated: 17 November 2020 for the steps to be followed.
Budget Seminar 2020 EY Sri Lanka – FREE
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
A person who filed a Tax Return electronically (via e-Service) for the Y/A 18/19 shall continue to file Tax Returns in that manner
The IRD has informed that the taxpayers who had e-Filed the Return of Income for the last Year of Assessment (2018/ 2019), should e-File their Returns of Income for this year. Further, Returns of Income of such taxpayers have neither been printed nor posted for manual submission. IRD highly promotes all other taxpayers as well…