The Sri Lanka Inland Revenue Department (IRD) has released the Statement of Estimated Income Tax Payable for the year of assessment 2024/2025. It also issued the Statement of Estimated Tax (SET) – Credit Schedule and the Instructions for completing the Statement of Estimated Tax Payable and the Payment of Quarterly Instalments.
Taxpayers are advised to follow the specific instructions issued by the IRD before completing the Form for Statement of Estimated Tax Payable (SET). These sets of instructions consist of general instructions, instructions to complete the SET, and, the calculation of quarterly installments of income tax payable.
Due dates for the payment of estimated tax
The estimated tax shall be paid in quarterly instalments by the following dates:
| Tax instalment | Due date of payment |
| First instalment | 15 August 2024 |
| Second instalment | 15 November 2024 |
| Third instalment | 15 February 2025 |
| Fourth instalment | 15 May 2025 |
Payment of tax
The payments of quarterly instalments of tax should be made using pay-in-slips issued by the IRD and posted to the taxpayers. In addition, payment can be made through Online Tax Payments Platform (OTPP).
