Quantification of Values for Non-Cash Benefits in calculating Employment Income – Circular No. SEC/2022/E/05(Revised) [07 February 2023]

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. Examples of non-cash benefits include accommodation, vehicles, loans, stock options, and other fringe benefits.

Click here to Download: Circular No. SEC/2022/E/05(Revised)

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