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Introduction Sri Lanka has introduced a new Beneficial Ownership (BO) disclosure framework as part of recent amendments to company law. The purpose of this initiative is to increase corporate transparency, strengthen anti-money laundering measures, and ensure that the individuals who ultimately own or control companies can be identified by regulators and relevant authorities. Under the…
Tax Clearance for Company Liquidation in Sri Lanka When a company decides to cease operations or formally close its business activities in Sri Lanka, obtaining proper tax clearance from the Inland Revenue Department (IRD) becomes an important part of the liquidation and deregistration process. In many situations, the Registrar of Companies (ROC) may require confirmation…
Individuals planning to make overseas investments from Sri Lanka may be required to obtain a Tax Clearance Certificate (TCC) from the Department of Inland Revenue (IRD) before proceeding with the investment transaction. This requirement commonly applies when funds are transferred through an Outward Investment Account (OIA) under Sri Lanka’s foreign exchange regulations. At MAPA Corporate…
Tax Clearance Certificate for Visa Purposes in Sri Lanka Individuals applying for overseas visas, migration programs, foreign employment opportunities, or long-term residency approvals may be required to obtain a Tax Clearance Certificate (TCC) from the Department of Inland Revenue (IRD) in Sri Lanka. This certificate is generally issued after reviewing the taxpayer’s compliance position, including…
📅 Last Updated: March 2026 This article is continuously updated with the latest Advance Personal Income Tax (APIT) regulations in Sri Lanka, including tax rates, employer responsibilities, and compliance requirements issued by the Inland Revenue Department. 🔄 Latest Updates Key Changes (2025/2026) 👉 This section will be updated annually with new tax changes. 📘 What…
📅 Last Updated: March 2026 This article is continuously updated with the latest Advance Income Tax (AIT) and Withholding Tax (WHT) regulations in Sri Lanka, including applicable rates, responsibilities, and compliance requirements issued by the Inland Revenue Department. 🔄 Latest Updates Key Information (Current) 👉 This section will be updated if tax rules change. 📘…
Guide Latest SSCL Changes in Sri Lanka – 2026 Update The Social Security Contribution Levy (SSCL) continues to apply in Sri Lanka in 2026 under the Social Security Contribution Levy Act No. 25 of 2022 together with subsequent amendments issued by the Government of Sri Lanka and the Inland Revenue Department (IRD). Several important amendments…
VAT Update – Effective from 2026 Important Notice: The following updates have been introduced to the Sri Lankan VAT system after the publication of this article. 1. VAT (Amendment) Act No. 04 of 2025 The Value Added Tax (Amendment) Act No. 04 of 2025 was certified on 11 April 2025 and introduced several important changes…
📅 Last Updated: March 2026 This article is continuously updated with the latest corporate income tax regulations in Sri Lanka, including tax rates, compliance requirements, and filing obligations issued by the Inland Revenue Department. 🔄 Latest Updates Key Changes (2025/2026) 👉 This section will be updated annually with new tax changes. 📘 What is Corporate…
📅 Last Updated: March 2026 This article is continuously updated with the latest individual income tax regulations in Sri Lanka, including new rates and changes issued by the Inland Revenue Department. 🔄 Latest Updates Key Changes (2025/2026) 👉 This section will be updated every year with new changes. 📘 What is Individual Income Tax? Individual…
