Tax payments & Returns due dates and payment period codes for the month of July 2020 are as follows: Advance Personal Income Tax (APIT) for the month of June 2020 is due on July 15, 2020. Tax Type: 03 Period Code: 20060 WHT / AIT on Interest for the month of June 2020 is due…
Stamp duty Return can be submitted through e-Service (RAMIS) w.e.f. 01 October 2020 (for Q3 of the year 2020, Period from 1 July 2020 to 30 September 2020). Download Stamp Duty Quick 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….
IRD Notice to VAT Registered Persons who supply Condominium Housing Units As per the Bill and subsequent Committee Stage Amendments (CSA) as passed in Parliament on the 23rd October 2019 to amend Value Added Tax Act, No. 14 of 2002 (VAT Act) including section 22 and item (xi) of paragraph (b) of the First Schedule to…
Department of Inland Revenue has published on changes that have been proposed to the Inland Revenue Act, No. 24 of 2017. The law pertaining to the above is yet to be enacted. Download IRD Notice: PN/IT/2020-03 (Revised) | 08.04.2020
Department of Inland Revenue has published a paper notice (PN/DTR/2020-02) by in lining with the approval for “Tax Relief Measures to Facilitate Post COVID-19 Economic Recovery” granted by the Cabinet of Ministers on June 24, 2020, all the Banks are informed that the notices issued, if any, under Section 180 of the Inland Revenue Act…
Now Taxpayers can apply [from Inland Revenue Department – International Unit] for Blanket Clearances up to 31/03/2018 (Before the new law comes into force) on following outward Remittances- Commission Payments Brokerage Payments Interest Payments (Loan obtained after 01 April 2012) Re-insurance Payments (For Double Tax Treaty Countries)
Download – Public Ruling – PR/IT/2018/02 (10/05/2019) Department of Inland Revenue has published public ruling on deducting of Withholding Tax from the service provided by individuals. If the monthly payment exceeds Rs. 50,000/-, WHT should be deducted on the total amount Similar services and similar services or connected work – Include only services which are similar…
NEW INLAND REVENUE ACT – UNDER BILL STAGE Imposition of Income Tax for any year of assessment commencing on or after April 1, 2017. New Inland Revenue Act (Bill) – English New Inland Revenue Act (Bill) – Sinhala Issued on 19.06.2017
Department of Inland Revenue has published a paper notice by taking into account of the prevailing situation in the country, all Divisional Secretaries and Liquor License Holders are informed to treat that the validity period of all Temporary Tax Clearance Certificates relating to liquor licenses (which will be expired before June 30, 2020) issued by…
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…
New Regulations made under Economic Service Charges Act, No. 13 of 2006 Download – English Download – Sinhala Download – Tamil
The government has published the Surcharge Tax Act No. 14 of 2022. The Surcharge Tax Act No. 14 of 2022 was certified on 08 April 2022 by the Hon. Speaker. Download Surcharge Tax Act No. 14 of 2022 – English | Sinhala