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There’s been a buzz in the air lately, and it’s all about TIN. If you’re 18 or older in Sri Lanka, chances are you’ve heard whispers about mandatory registration with the Inland Revenue Department (IRD) and obtaining a Taxpayer Identification…
Sri Lanka’s economy is on the path of recovery and taxes will be playing a crucial role this year. Our team of tax experts has gathered the top five tax stories to keep all our business leaders and stakeholders informed…
The Employees’ Provident Fund (EPF) and Employees’ Trust Fund (ETF) are mandatory social security programs in Sri Lanka that play a critical role in securing employees’ financial well-being after retirement. This comprehensive guide provides a clear overview of both programs,…
Navigating the New Landscape in 2024 As Sri Lanka’s tax landscape evolves, understanding the latest regulations is crucial for businesses and individuals alike. The recent promulgation of the VAT (Amendment) Act No. 32 of 2023 brings significant changes to the…
Introduction: The Inland Revenue Department (IRD) of Sri Lanka has introduced stringent penalties for taxpayers who fail to submit their annual income reports by the November 30 deadline. This measure, in accordance with the existing Inland Revenue Law, aims to…