December 2024

Here’s a breakdown of how individual income tax is calculated in Sri Lanka, according to the Inland Revenue Act: Income Tax sri lanka 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 […]

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. Update! IRD has discontinued the issuance of temporary VAT certificates for commercial imports. Why is it Needed? Import and Export Activities: