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The Inland Revenue (Amendment) Bill published on 24 February 2026 sets out proposed amendments to the Inland Revenue Act No. 24 of 2017 (the “IRA”). Salient features of the Bill are as follows: 1. Increase in the Capital Gains Tax (“CGT”) Rate * CGT rate applicable to Individuals and Partnerships is
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The highlights of revisions to tax proposals presented in the National Budget 2025 for the current year, which may be implemented after formal amendment to the relevant legislation, primarily the Inland Revenue Act No. 24 of 2017, as amended (“IRA”).
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The highlights of revisions to tax proposals presented in the National Budget 2025 for the current year, which may be implemented after formal amendment to the relevant legislation, primarily the Inland Revenue Act No. 24 of 2017, as amended (“IRA”).
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<p>The Press Release dated 31.05.2022 was issued by the Media Division of Prime Minister’s Office setting out several proposals revising the VAT regime. A summary of salient features of such proposals is set out below:<br><br></p>
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<p><!-- wp:paragraph --></p> Proposed Tax Reforms – Value Added Tax (“VAT”) In Sri Lanka The Press Release dated 31.05.2022 was issued by THE Media Division of Prime Minister’s Office setting out several proposals revising the VAT regime. A summary
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Applicability Any person including individuals, companies, Funds, NGO’s, partnerships who has not disclosed any amount of taxable supply, income or asset which was required to be disclosed under laws related to income tax enacted in 1979, 2000, 2006 and 2017 (“IR Laws”) and Value Added Tax Act No. 14
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<p>The web notice dated 13th January 2021 was issued by the Department of Inland Revenue (“<b>DIR</b>”). A summary of <u>income tax</u> proposals made in the National Budget – 2021 as mentioned in