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.
Sri Lanka's Inland Revenue Department has announced on 8 April 2026 major changes to the tax treatment of fabric imports, effective 1 April 2026, which will impact both importers and local suppliers in the textile sector. VAT rate increases to
Sri Lankan Inland Revenue Department (IRD) has issued Notice PN/VAT/2026-04/1 on 08 April 2026 to all Value Added Tax (VAT) registered persons, providing clarification on the VAT treatment of fabric imports and supplies following recent Gazette
Sri Lankan Inland Revenue Department (IRD) has issued a formal reminder to taxpayers regarding Value Added Tax (VAT) obligations for the period ending 31 March 2026, reaffirming strict compliance requirements for payments, return submissions, and
Sri Lankan Inland Revenue Department (IRD) has issued a final reminder to all relevant taxpayers regarding the payment of VAT on Financial Services (VAT on FS) for March 2026, with the due date set as 20 April 2026. Taxpayers are required to settle
Sri Lankan Inland Revenue Department has issued SEC/PN/VAT/2026-02 on 31 March 2026, notifying taxpayers of a further delay in the implementation of Value Added Tax (VAT) on services supplied through electronic platforms by non-resident service
Sri Lanka has rolled out a new standardised format for tax invoices as part of its ongoing Value Added Tax (VAT) modernisation efforts, with the changes now set to take effect from 1 April 2026. The new invoice requirements were officially
