The Ministry of Finance has issued a clarification that possessing a Tax Identification Number (TIN) does not automatically make one liable to pay income tax.
Issuing a press release, the Ministry stressed that only individuals who are 18 and above whose income surpasses the annual tax exemption limit of Rs. 1.2 million are obligated to pay income tax.
Nevertheless, it added that it is mandatory for anyone over 18 years of age to register with the Department of Inland Revenue with effect from January 1, 2024 and obtain a TIN. The guidelines to this effect have already been issued by the Department of Inland Revenue and can be accessed at www.eservices.ird.gov.lk it added.
The Ministry further clarified that with effect from February 1, it will be mandatory to submit one's TIN when obtaining certain services. Accordingly, a person's TIN would need to be produced when opening a current account, seeking a building plan approval, registering a motor vehicle or renewing a vehicle license, and when registering title deeds to a land.
The Government today tabled in the House the Report of the Commission to Inquiry into the Establishment and Maintenance of Unlawful Places of Detention and Torture Chambers in the Batalanda Housing Scheme.
Former President Ranil Wickremesinghe said today he wholly rejects the Batalanda Commission report and that it was appointed wholly with the intention slinging political mud at him.
Leader of the National People’s Party (NPP) and one time Propaganda Secretary of the JVP Wimal Weerawansa accused the Government of bringing back the “Batalanda Commission” for a media spectacle instead of a genuine concern for those who suffered during the 1988-1990 period.
Speaker (Dr.) Jagath Wickramaratne to announced to the Parliament regarding the vacant seat created in Parliament due to the resignation of Mohamed Sali Naleem from his position as a Member of Parliament.
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