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LankaTAX Brings Sri Lankan Tax Filings, AI Assistance, Calculations and Tax Advisers Into One Digital Platform
As Sri Lanka’s tax environment continues to evolve, taxpayers and businesses increasingly need quick access to legislation, regulatory updates, tax calculations, filing guidance and professional advice. LankaTAX is bringing these services together through a single digital platform that combines Sri Lankan tax research, AI-powered assistance, tax calculators, compliance resources and access to tax advisers and consultants. LankaTAX is…
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LankaTAX Unveils Comprehensive Tax Calculators for 2025/26
LankaTAX has unveiled a new suite of tax calculators designed to help individuals, businesses, employers and tax professionals estimate their tax liabilities for the 2025/26 Year of Assessment. The calculators are available through the LankaTAX online platform and bring together a range of Sri Lanka’s major tax computations in one digital resource. Access the LankaTAX Tax…
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Lanka Data Adds HS Codes And Import Tariff Data To Its Public Data Platform
Colombo, Sri Lanka – Lanka Data, Sri Lanka’s intelligent public data platform, has announced the launch of its HS Code and Import Tariff Information Service, providing businesses, trade professionals and the public with fast, reliable access to the latest customs tariff information through an AI-powered search platform. The new service enables users to search Harmonized System (HS) Codes, access…
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Latest Amendments to Social Security Contribution Levy Act, No. 25 of 2022
Social Security Contribution Levy (Amendment) Act, No. 15 of 2024 by the Parliament of the Democratic Socialist Republic of Sri Lanka is the latest amendment to the Social Security Contribution Levy Act, No. 25 of 2022. Here is a summary of the key amendments: Download the Amendment Act: http://documents.gov.lk/files/act/2024/3/15-2024_E.pdf
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Summary of the Value Added Tax (Amendment) Act, No. 16 of 2024
Short Title: The Act may be cited as the Value Added Tax (Amendment) Act, No. 16 of 2024. Amendments to Section 2: Amendments to Section 10: Prevailing Language: Download the Amendment Act: http://documents.gov.lk/files/act/2024/3/16-2024_E.pdf
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Report a Tax Evasion and Get Rewarded upto 15%
Informants may receive an award (up to 15% of revenue collected) when tax is collected based on the information provided, as per the relevant tax laws. How can someone report tax evasion To report tax evasion, you can use the Tax Evasion Reporting Form available on the official website of the Inland Revenue Department. Here…
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What will happen if you evade paying taxes
If taxes are avoided, the consequences can be severe and include penalties, interest on the unpaid amount, and legal action. Here are the specifics based on the provided context: It is important to comply with tax laws to avoid these penalties and additional charges. If you are facing difficulties with tax payments, it is advisable…
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How to Register a company in Sri Lanka?
To register a company in Sri Lanka, especially if it’s an overseas company looking to establish a place of business within the country, the following steps and requirements, as outlined in the provided context, should be followed: These steps are based on the information provided in the context and are specific to overseas companies. Local…
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What are tax on dividends income
The tax on dividend income is addressed in the provided context under different sections of the Inland Revenue Act: These excerpts from the Inland Revenue Act provide details on how dividends are taxed, including the rates, conditions for exemptions, and the distinction between dividends paid by resident and non-resident companies
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Chat2Find releases 3 Specialised ChatBots for Sri Lanka Market
Jan 31, 2024, London Chat2find AI company specialised in conversation AI has released 3 key Artificially Intelligent (AI BOTS) services for Sri Lanka market specialised in taxation, law and business. Chat2Find AI provides cutting edge solutions to users who seek unrestricted and unbiased information related to any specialised subject. LankaTAX – AI Tax Advisor LankaTax is an…
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What are the regulations for tax exemptions?
Based on the provided context, there are several regulations for tax exemptions in Sri Lanka, which include: Please ensure to consult the latest tax guidelines or a tax professional for the most current and detailed information, as tax laws and regulations can change frequently.
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How to apply for a tax relief?
To apply for tax relief, you would typically need to follow these steps: For specific instructions and guidance, refer to the tax authority’s official guides or contact their support services for assistance. In the context of Sri Lanka, you can reach out to the Taxpayer Service Unit (TSU) for help with registration as a taxpayer,…