Sri Lanka Providing Penalty Relief for Payment of Default Taxes
Sri Lanka Inland Revenue has issued a notice to taxpayers on penalty relief for the payment of taxes due up to 31 December 2021. The penalty relief is available for taxes paid by 30 September 2022. However, the penalty relief is not available in respect of income tax arrears to be written off in respect of certain individuals under the Finance Act, No. 18 of 2021 or in respect of SMEs to facil…
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