On 1 July 2022, Sri Lankan Inland Revenue Department (IRD) has published a notice on penalty relief for the payment of taxes due up to financial year 31 December 2021. The summary of notice is following:
- The penalty relief measure is available for taxes paid by 30 September 2022.
- Payment of the default Income Tax, VAT, PAYE/APIT, WHT/AIT, SD and B&G up to the period where the payment due date of the relevant period is 31st December 2021 or prior to that date.
- This notice is not applicable for income tax arrears which are to be written off in terms of section 12 of the Part II of the Finance Act, No. 18 of 2021 and section 58(1) of the Inland Revenue (Amendment) Act, No. 10 of 2021.
