Sri Lanka’s campaign against tax evasion is intensifying, with President Anura Kumara Dissanayake telling Parliament that he holds a list of 200 major tax defaulters owing between Rs. 100–150 billion.
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The validity of the Personal Identification Number (PIN) issued by the Inland Revenue Department for the submission of income tax returns for the year of assessment 2024/2025 has been extended.
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Sri Lanka’s tax revenue collection has surpassed Rs 1.7 trillion by end of May as the revenue collection agencies have
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The Inland Revenue Department has announced that individuals earning less than Rs. 1.8 million annually can now claim relief on the advance income tax (AIT) charged on interest or discounts from deposits.
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The fear of taxation may be contributing to the recent increase in cash circulation, highlighting Sri Lanka’s long journey towards a less cash-dependent society.
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