Annual income report should be submitted to Inland Revenue Dept. before Nov.30
According to the existing Inland Revenue Law, the annual income report for the assessment year 2022/2023, i.e. from April 1st, 2022 to March 31st, 2023, must be submitted to the Inland Revenue Department before November 30th, the officials of the Inland Revenue Department stated. They further pointed out that a fine of 50,000 rupees and 5% of the tax payable will be imposed on those who maintain tax files without submitting the report by the relevant date.
Inland Revenue Department commented the aforesaid yesterday (27) when a workshop on the completion of the annual income report and submissions to Inland Revenue Department online, organized by the Sectoral Oversight Committee on Alleviating the Impact of the Economic Crisis, which was held in Parliament yesterday (27) with the contribution of resources from the Inland Revenue Department.
The workshop was Chaired by the Committee Chair of the Sectoral Oversight Committee on Alleviating the Impact of the Economic Crisis, Hon. Gamini Waleboda, Member of Parliament, and was held with the attendance of Sate Ministers, a number of Members of Parliament and officials of Parliament. Senior Commissioner Sujeewa Senadheera, Senior Deputy Commissioner Nandana Kumara and Senior Deputy Commissioner M.H.D. Meneripitiya participated in the briefings on behalf of the Inland Revenue Department. According to the current income tax law, the provision of income reports and the situations that may arise due to non-providing of those reports were also made aware.
Accordingly, it was stated that income tax files have been opened for all Members of Parliament and practical explanations were given on completing the income report through the website of the Inland Revenue Department and submitting it online to the department’s computer system. Members of Parliament also inquired from the officials present regarding issues which may arise when submitting the report.
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