Section 2 of the Special Commodity Levy Act, No. 48 of 2007, impose in respect of the list of commodities specified in Column I of the Schedule hereto, a Special Commodity Levy at the rates specified in the corresponding entries in Column II of the Schedule in the attached gazette above. This Order shall be valid…
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 updated list of VAT Registration inactivated persons as at 30.01.2020. Download List: PDF | Excel
Following taxes & levies going to be amended to the Finance Act, No. 25 of 2003, the Finance Act, No. 5 of 2005, the Finance Act, No. 12 of 2012, the Finance Act, No. 16 of 1995 and the Finance Act, No. 10 of 2015; Luxury Tax on Motor Vehicles Vehicle Entitlement Levy Annual Company…
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
Department of Inland Revenue has published Revised Circular to Banks and Financial Institutions on Deduction of Withholding Tax and Advance Income Tax – Circular No. SEC/2020/03 [08 June 2020] Download IRD Circular No. SEC/2020/03 (Revised) | Dated: 08 June 2020
Tax Payments & Returns due dates in the month of September 2021 Tax payments & Returns due Tax Payments & Returns due dates in the month of September 2021 dates and tax types & payment period codes for the month of September 2021 are as follows: SEPTEMBER 15TH Advance Personal Income Tax (APIT) for the…
Individuals who are liable to pay income tax (whose assessable income for a month exceeds Rs. 250,000 per month or Rs. 3,000,000 for a year of assessment), are required to register and obtain Taxpayer Identification Number (TIN) in order to pay Income Tax on a quarterly basis. There are two methods; Manually Online How to register manually (Due…
The Inland Revenue Act, No. 10 of 2006 shall not apply to any income tax, for any year of assessment commencing on or after April 1, 2018, unless otherwise stated in the Inland Revenue Act, No. 24 of 2017 or as regulated in the succeeding provisions.
Pay As You Earn (PAYE)/ Advance Personal Income Tax (APIT) Return and Schedules for the Y/A 2020/2021 Return Annual Statement of Employer – APIT (YA 2020/2021) Guide Instructions to Complete the Annual Statement of Employer and Schedules Schedule – PDF Schedule 01 – For Remuneration Other than and Once and for all Payments Schedule 02…
Department of Inland Revenue has published notice by specifying instructions to obtain credit voucher books for Registered Identified Purchasers (RIPs) under SVAT Scheme. Download IRD Notice No. PN/VAT/2020-06 | Dated: 13.05.2020
Department of Inland Revenue has published a Circular to Withholding Agents (WHA) on Deduction of Withholding Tax and Advance Income Tax. Download IRD Circular No. SEC/2020/04 | Dated: 19 May 2020
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.
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.