Skip to main content
Analysis:
Analysis
14 Feb 2020

Income tax updates 2020

Income tax updates 2020
372 KB PDF

2020

PAYE WHT on interest, dividends, rent, and service payments to residents is abolished  with effect from 1 January 2020. Following this change, you may now be required to file  income taxreturn. Click and know the answers to the frequently asked questions and better understand  the change in the regulation.

Did you find this useful?

Yes
No

Thanks for your feedback

If you would like to help improve Deloitte.com further, please complete a 3-minute survey

Your feedback is important to us

To tell us what you think, please update your settings to accept analytics and performance cookies.

Need help updating cookies?

Our thinking

Budget highlights 2022 | Tax | Deloitte Sri Lanka

Basil Rajapaksa, the Minister of Finance, presented the 76th Budget of the Democratic Socialist Republic of Sri Lanka in the Parliament today, under the policy framework of the government of HE the President Gotabaya Rajapaksa, “Vistas of Prosperity and Splendour”.
Analysis

Implementation of proposed amendments | Deloitte Sri Lanka | Tax

The Department of Inland Revenue (DIR) has issued a revised notice (PN/IT/2020-03 (Revised)) on 8 April 2020 for implementation of amendments to the Inland Revenue Act No.24 of 2017 (IR Act). The DIR implementation notice has been summarised in this document. Click to know more.
Analysis

Personal income tax compliance | Deloitte Sri Lanka | Tax

The notice no. PN/PAYE/2020-01, dated 15 April 2020 and published on the web portal of the Department of Inland Revenue (DIR) on 22 April 2020, carries further changes to the treatment of employment income.
Services

Guidelines on advance income tax and withholding tax | Deloitte Sri Lanka | Tax

The Department of Inland Revenue (DIR) issued guidelines effective from 01 April 2020, to banks and financial institutions (vide circular no. SEC/2020/03), and withholding tax agents (WHA) (vide circular no. SEC/2020/04) on deducting advance income tax (“AIT”) from payments liable for withholding tax (WHT). This tax update explains the tax implications and compliance requirements arising for individuals and entities pursuant to these guidelines.
Perspective