Withholding Tax from Service fees and Contract Payments

4 thoughts on “Withholding Tax from Service fees and Contract Payments”

1. Clarify the meaning of “person’with this gazette notification published by IRD’ it Mean that WHT Deduct from any payment exceed Rs 50,000/=”company or individual. ‘ still we deduct individual payment only? please explain this?

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   1. Dear Ravi,

      As per the section 85 of New IRA and Circular No. SEC/2018/06, clearly explain WHT should be deducted from service fee or any contract payment which has a source in SL and which is made by a person (WHT Agent) to any Resident Individual.

      Please refer 2.1 of this Circular: http://lankataxclub.lk/wp-content/uploads/2018/04/SEC_2018_06_E.pdf

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