Penalty relief & Time extension for Taxes due
As per the notice issued by IRD today (30.06.2022), granted penlaty relief by paying all Taxes in default on or before Spetember 30, 2022.This has been initiated...
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As per the notice issued by IRD today (30.06.2022), granted penlaty relief by paying all Taxes in default on or before Spetember 30, 2022.This has been initiated...
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Social Security Contribution Levy bill was issued on 17.06.2022 and subsequesnly Revised Bill was issued on 24.06.2022.The main reason to issue the revised bill...
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Effective Date :The Social Security Contribution Levy shall come into operation on the First day of July 2022.Persons to whom this Act applies : Importeres ,Manufacturers,Service...
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It was decided at the Cabinet of Ministers meeting on Monday to publish the Social Security Contribution Tax Bill in the Government Gazette and to present it to...
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The Cabinet of Ministers on Monday(06.06.2022) decided to grant tax holidays up to 40 years for investments in China-backed multibillion dollar Colombo Port City...
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Tax Reforms to be introduced in the immediate and near termValue Added Tax (VAT)Increasing VAT rate from 8 percent to 12 percent with immediate effect .Refer Gazette...
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The Government will increase income tax, withholding tax, pay-as-you-earn tax(APIT) and value added tax to levels before the 2019 controversial tax cuts which reduced...
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The Supreme Court has informed Speaker Mahinda Yapa Abeywardena on 22.03.2022 that the Surcharge Tax Bill can be passed with a simple majority in parliament as it...
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The Government has withdrew the Special Goods and Services Tax (GST) Bill on 22nd March 2022 after the Supreme Court determined the majority of the clauses in the...
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Liability(a) any individual, partnership or company, whose taxable income calculated in accordance with the provisions of the Inland Revenue Act, No. 24 of 2017,...
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04:44 PM - Finance Minister Basil Rajapaksa concluded his budget speech for the year 202204:37 PM - Public auctions to be conducted for TRCSL licences for telecommunication...
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Taxes which it appliesThe Commissioner General is required to write off taxes in arrears, for periods prior to December 31, 2020, in relation to the following taxes.Goods...
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Persons to whom it applies To any person who has not disclosed any amount of taxable supply, income or asset which was required to be disclosed under the provisions...
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Claiming that the proposed ‘Tax Amnesty Bill’ was aiming to facilitate crooked businessmen loyal to the Government to legitimate money amassed through illegal...
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EXEMPTIONS FOREIGN CURRENCY INVESTMENTS IN SRI LANKA Income derived by any non-resident person (other than a Sri Lankan permanent establishment) as interest, discount...
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What will happened to Inland Revenue Amendment Bill ?02.04.2021 - Senior Chartered Accountant Nihal Hettiarachchi files petition in SC challenging constitutionality...
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The new GST was proposed in Budget 2021 to make tax collection more efficent .Under the provisions of the proposed,it is expected to simplyfy the Goods and services...
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2021.03.15The Cabinet approved the proposal made by the Hon. Prime Minister in his capacity as the Minister of Finance, to publish the Bills prepared to amend the...
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The relevant ministries approved the exemption of the film industry from the entertainment tax for a period of two years in order to protect local cinema in the...
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2nd instalment payment of Y/A 2020/21 is due on 15.11.2020. Refer the notice issued by IRD and familar with Alternative Tax Payment Syetm to make your payments online...
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Return of Income for the Y/A 2019/2020 should be furnished on or before 30th November 2020.Furnishing of an incorrect return or failure to furnish the return on...
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