The Sri Lanka Inland Revenue Department (IRD) has published the Inland Revenue (Amendment) Act, No. 4 of 2023, which was originally certified on 8 May 2023 and published in the Official Gazette on 12 May 2023. Some of the main measures include:
- A restriction on cash transactions, providing that payments exceeding LKR 500,000 in a day, or in respect of a single transaction, or in respect of a series of single transactions relating to one event, are not deductible and may not be included in t…