Sri Lanka Inland Revenue has issued a notice to taxpayers on the further extension of tax return submission deadlines due to the prevailing (COVID-19) situation in the country. This includes that the deadlines for the following are extended to 15 July 2020:
Note, the prior extension was to 31 May 2020, including for the Transfer Pricing Disclosure Form for the Y/A 2018/2019. This has not been further extended in the latest notice.
In addition to the notice on further return deadline extensions, Inland Revenue has also issued a separate notice to tour operators registered with Sri Lanka Tourism Development Authority regarding a VAT exemption. This includes that the supply of services in respect of inbound tours by a travel agent registered with the Sri Lanka Tourism Development Authority is exempt from VAT with effect from 1 April 2020, subject to formal amendments to be passed in Parliament.
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