Here’s a breakdown of how individual income tax is calculated in Sri Lanka, according to the Inland Revenue Act: 1. Determining Your Residency Status: Resident Individual: An individual who is physically present in Sri Lanka for more than 183 days in a year of assessment. Non-Resident Individual: An individual who is not a resident individual. […]
Guide to Individual Income Tax Calculation in Sri Lanka (IIT) Read More »
Taxation
A temporary VAT registration in Sri Lanka is a short-term registration granted to businesses that are not yet eligible for permanent VAT registration but need to engage in VAT-related activities, primarily import and export. Why is it Needed? Import and Export Activities: To facilitate customs clearance for export and import goods, How to Obtain Temporary
Temporary VAT Registration in Sri Lanka Read More »
Taxation
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