Inland Revenue Act No 24 Of 2017
The purpose of this material is to build awareness of provisions of the inland revenue act no.
Inland revenue act no 24 of 2017. 24 of 2017 at a glance 1 income tax shall be payable for each year of assessment by. 24 of 2017 inland revenue act no. The new act is effective from april 1 2018. Simplification of the provisions of new ir act via tax alert from 01st november 2017 2.
24 of 2017 new ir act among the subscribers of tax alert. 24 of 2017 the act which will be implemented from 01st april 2018 will have a significant impact on the tax payers since it replaces the inland revenue act no. 10 of 2006 and its long established practices. Inland revenue act no.
Inland revenue act no 24 of 2017 certified on 24th october 2017 guide to inland revenue act draft income tax it upto y a 2017 2018. Simplify the provisions of new ir act via tax alert from 01st november 2017 2. The inland revenue bill published by gaze. 24 of 2017 sinhala certified on 24th of october 2017 share this.
We have already commenced the following steps to educate our subscribers. 2 however with effect from 01 04 2020 if any of above payment is a regular fixed payment interest rent etc on the request of the recipient an advance income tax could be deducted by the payer of such payment if such payer is a wha as per the declaration made to the wha. Inland revenue act no. On 19 june 2017 along with amendments made at the committee stage was passed by parliament on 7 september 2017 and will become an act of parliament once it receives the certification of the hon.
Inland revenue act no 10 of 2006 certified on 31st march 2006 inland revenue amendment act no 10 of 2007 certified on 30th march 2007. Or b a person who receives a final withholding payment during that year. Certified on 24th of october 2017 l d o. We have already initiated the following steps to educate our subscribers.
24 of 2017 english inland revenue act no. Publication of several articles in our website in connection with the. The inland revenue act no. Inland revenue act no.
A a person who has taxable income for that year. Inland revenue act no. Inland revenue act no. 24 of 2017 1 2 pl 005318 2 962 07 2017 short title and the effective date of the act.