Sri Lanka issues TP disclosure form for AY 2020/2021
25 August, 2021
On 16 August 2021, the Inland Revenue Department (IRD) of Sri Lanka published the transfer pricing disclosure form for the assessment year (AY) 2020/2021. Entities are required to file the TP disclosure form with their annual income tax return if they have carried out controlled transactions with associated enterprises equal to or more than LKR 200 million during the year.
The income tax treaty between the Czech Republic and Sri Lanka entered into force on 16 October 2024. The announcement was made by the Czech Ministry of Finance on 15 October 2024. Both countries apply the credit method for the elimination of
At a press briefing on Cabinet decisions from 2 September 2024, Sri Lanka's Cabinet announced its approval for signing an income tax treaty with Austria. According to the convention, Sri Lanka will be taxed at a rate not exceeding 10% of the
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
Officials from Sri Lanka and the Maldives met to discuss strengthening bilateral relations and cooperation, including the signing of an income tax treaty, on 6 June 2024. This follows after the Maldives ' Minister of Foreign Affairs, Moosa
On 1 April 2024, the Sri Lanka Inland Revenue Department (IRD) issued a notice to taxpayers outlining the necessary procedures to secure a tax residence certificate (TRC). The requirements include: a) A request for TRC should be made to the
On 19 January 2024 the IMF issued a report following discussions with Sri Lanka. The report notes that the economic reform program implemented by Sri Lanka is helping economic recovery with positive real GDP growth in the third quarter of 2023,
