Proposed Amendments to Value Added Tax (VAT) Act in 2025
The Sri Lankan government has introduced significant amendments to the Value Added Tax (VAT) Act, No. 14 of 2002, through the VAT (Amendment) Bill of 2025. These...
Read More
The Sri Lankan government has introduced significant amendments to the Value Added Tax (VAT) Act, No. 14 of 2002, through the VAT (Amendment) Bill of 2025. These...
Read More
With the Inland Revenue (Amendment) Bill, 2025 taking effect from April 1, 2025, Sri Lanka’s service exporters—both individuals and corporates—will experience...
Read More
The recently proposed Inland Revenue (Amendment) Bill No. 569 of 2025 brings significant changes to the tax refund process in Sri Lanka. These amendments affect...
Read More
Understanding the Key Amendments to Income Tax in Budget 2025 In the recent Budget 2025, several key amendments have been proposed to the Income Tax system in Sri...
Read More
The Ministry of Finance has recently lifted the temporary suspension on the importation of motor vehicles under Stage III w.e.f 01.02.2025. As a result, many individuals...
Read More
On December 18, 2024, the President of Sri Lanka announced a series of tax reforms aimed at balancing fiscal consolidation with social relief. Below is a summary...
Read More
The Inland Revenue Department (IRD) has introduced critical changes for the Year of Assessment (Y/A) 2023/2024. Effective from April 1, 2023, it is mandatory for...
Read More
On July 8th, 2024, the Secretary to the Treasury, Mahinda Siriwardana, made important announcements regarding the demands for salary increases by public servants...
Read More
The recent IMF report outlines a comprehensive set of tax reforms intended to address Sri Lanka's fiscal challenges and achieve a sustainable primary surplus. Here’s...
Read More
In a significant move to ensure tax fairness, the Inland Revenue Department (IRD) of Sri Lanka is ramping up efforts to enhance tax compliance among high wealth...
Read More
In a recent announcement from the Presidential Media Division, a significant change in income tax regulations is set to kick in on February 1, 2024. This update...
Read More
The below main tax proposals were presented by Finance Minister Ranil Wickramasinghe on the 13th of November 2023 during the 78th Budget of Sri Lanka Tax Identification...
Read More
We wish to bring to your attention a critical update concerning the deadline for tax payments for the Year of Assessment 2022/2023. As you are undoubtedly aware,...
Read More
In a recent discussion held by the Select Committee on Ease of Doing Business Index, urgent steps were identified to regulate internet-based business activities...
Read More
The Inland Revenue Bill was released on March 16, 2022, which includes changes to taxes that were proposed in the 2023 Budget. One of the big changes in the bill...
Read More
President Ranil Wickramasinghe presented 77th Budget of Sri Lanka to the Parliment on 14th November 2022 in his capcity as the Finance Minister. Key features of...
Read More
The Inland Revenue Amendment Bill, which was introduced on the 11th October 2022, reduced the personal tax relief for resident and non-resident individuals to Rs.1.2Mn...
Read More
Salient features of Inland Revenue Amendent Bill issued on 11th October 2022 are as follows.The changes resulting from the Bill are subject to committee stage amendments...
Read More
Effective Date :The Social Security Contribution Levy shall come into operation on the First day of October 2022.Persons to whom this Act applies : Importers, Manufacturers,Service...
Read More
02:08 PM - President Ranil Wickramasinghe concluded his Interim budget speech for the year 202202:03 PM - Measures to increase local milk production.02:03 PM - Steps...
Read More