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 updated Declaration Form which is required to submit by Senior Citizens to the Financial Institutions. Updated Circular – Withholding Tax on Interest paid by Banks or other Financial Institutions – No. SEC/2018/01 Download – English Download – Sinhala Updated Declaration Form – Declaration by Senior Citizens to the Financial Institutions Download –…
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 new Application Form for Tax Clearance (Outward Remittances). Download Application Form for Tax Clearance (Outward Remittances)
As per the Extraordinary Gazette Notification No. 2151/52 dated November 29, 2019, published under section 2A of the Value Added Tax Act No. 14 of 2002, VAT rate has been revised with effect from December 01, 2019 as set out below. supply of services by a hotel, guest house, restaurant or other similar businesses providing…
Simplified Value Added Tax (SVAT) Scheme in Sri Lanka By Kokila Mudugamuwa The Simplified Value Added Tax (SVAT) scheme was introduced by the Department of Inland Revenue in Sri Lanka on April 1, 2011, under the Value Added Tax Act. The primary objective of SVAT is to eliminate the need for VAT refunds for eligible…
Department of Inland Revenue has published notice by informing to all Commercial Banks under Section 180 of the Inland Revenue Act No.10 of 2006 and Section 44 of the Value Added Tax Act No.14 of 2002 to recover the taxes in default has been suspended until December 31, 2020. Therefore, the Banks are instructed to halt…
Department of Inland Revenue has extended VAT Deferment Facility on Imports at the Customs/BOI and Temporary VAT registration till 31 December 2020 based on the prevailing situation of the country. Download IRD Notice No.: PN/VAT/2020-13 | Dated: 06 Oct 2020 Previous Paper Notice No: PN/VAT/2020-11 | Dated: 30 July 2020
The government has issued an amendment to the Value Added Tax Act No 14 of 2002. The Value Added Tax (Amendment) Act was passed in Parliament on 4 May 2021 and certified on 13 May 2021 by the Hon. Speaker. Download Value Added Tax (Amendment) Act No. 9 of 2021 – English | Sinhala EY Tax Alert | A Bill to…
Minister of Finance and Mass Media has been issued a new Gazette regulations for Levy on Mobile Short Message Services. Effective Date: 01.01.2019 Rate: 25 cents for each SMS Base: on bulk advertisements sent through SMS Liable person: Advertiser Collector: Mobile Telephone Operator Remittance to be made: Telecommunications Regulatory Commission (TRC) Payment Mode: Monthly Payment Due Date: on or before 15th day of…
Budget 2018 – Proposed Duty Changes – Vehicle Import (2018 අයවැයෙන් වාහනවල යෝජිත Duty වෙනස්වෙන හැටි මෙන්න)
Circular No. SEC/2023/E/03, issued on May 9, 2023, provides guidance on the calculation of Income Tax payable for the year of Assessment starting from April 1, 2022. The circular, published by the Inland Revenue Department of Sri Lanka, aims to assist taxpayers in understanding the process and requirements for determining their income tax liability. It…
Taking into account the prevailing situation in the country, IRD has revised the arrangements have been made to issue Tax Residency Certificates (TRC). Download IRD Notice No. PN/TC/2020-05 (Revised) | Dated: 03 November 2020
The Inland Revenue Department (IRD) of Sri Lanka has issued a critical notice for VAT registered persons who have faced difficulties in obtaining Credit Vouchers for the clearance of deferred VAT at Customs. This issue has primarily arisen due to the issuance of Estimated Assessments on Value Added Tax (VAT) Returns. To address this, the…