News & Updates

Press release on the amendment of the National Minimum Intention Act of 2016 No. 03 of 2016

By introducing the National Minimum Intention Act No. 03 of 2016, a National Minimum Intention has been set for all employees working in the private sector with effect from 01.01.2016. The Act initially stipulated a minimum wage of Rs 10,000 for monthly salaried workers and Rs 400 for daily wage workers. Again in the year 2021, an amendment to this Act raised the minimum monthly remuneration to 12,500 rupees and the daily allowance to 500 rupees from August 2021. Due to the recent economic crisis in the country and the increase in the cost of living, there has been no increase in the wages of private sector workers since 2021. After discussions in the National Labor Consultative Council on several occasions, the national minimum intention has been increased by 5,000 rupees from 12,500 rupees to 17,500 rupees. A draft was submitted to Parliament to amend the National Minimum Intent Act with the aim of raising the daily minimum intention from 500 to 700 rupees and by 200 rupees.

Accordingly, after following the relevant steps, this amendment draft was adopted by the Parliament on 03.09.2024, and it is scheduled to be implemented from this month after the signing of the said draft by the Honorable Speaker.

Accordingly, private sector employers will pay a national minimum monthly gratuity of Rs.17,500 to their employees from September 2024 with a gratuity of Rs.21,000 inclusive of the gratuity of Rs.3,500 payable under the Budget Relief Acts No.36 of 2005 and 04 of 2016 Should be dealt with. Furthermore, I inform that the employers should make arrangements to base this intention of 21,000 rupees in the payment of employees' provident funds, employees' trust fund contributions and gratuities.

The announcement to the tax payers is the decentralization of capital gains tax

Since it has been decided to decentralize capital gains tax from 15.08.2024, those who are subject to capital gains tax from that date can register for TIN number and tax type and obtain the capital gains tax report at the Inland Revenue Head Office on the second floor of Counseling and Promotion. This can be done either by the Division or by visiting the Inland Revenue City Offices and the nearest Regional Office or through e-Services through the web portal.

Failure to pay the tax and file the report on the due date shall be fined under Section 178 of the Inland Revenue Act No. 24 of 2017 and if found guilty under Section 190, shall be liable to punishment or imprisonment or both such punishment and imprisonment.

Inquiries - Mr. Calum Wijeratne (Commissioner) 0112134042 or 0761490420 

   Mr. Ajith Pushpa Kumara (Deputy Commissioner) 0112302934

Commissioner General of Inland Revenue

Kind notice

I would like to kindly inform all the tax payers that the arrears of tax collection related to all types of taxes administered by the Commissioner General of Inland Revenue will be done only legally and duly notified in writing.

But there have been other reports that a certain group of people go to businessmen and collect money by pretending to be local revenue officials. I shall not be liable for any such charges.

The Inland Revenue Department has complained to the Sri Lanka Police to take legal action on the relevant incidents in order to bring such persons to justice.

I kindly inform people who come to collect money to refrain from giving money and if there is any problem regarding tax payment or any other problem, please come to the nearest regional office or head office of the Inland Revenue Department and solve the problem.

Commissioner General of Inland Revenue

Minister of State for Finance Ranjith Siyambalapitiya says that they will focus on 14 new sectors and collect new taxes.

The minister says that these areas have not received attention for tax collection so far, and they will pay attention to them and collect taxes.

Minister Siyambalapitiya further says that this includes 14 sectors including large-scale tuition classes, private schools, private medical services, engineering services and surveying services and that the Inland Revenue Department is conducting an investigation on the income of these people.

The announcement is made under the Extraordinary Gazette No. 2376/25 dated 21.03.2024 to provide the required documents.

To the Commissioner General of Inland Revenue (CGIR) as per Extraordinary Gazette Notification No. 2376/25 dated 21.03.2024 issued under Section 123(8) of the Inland Revenue Act No. 24 of 2017 as amended by the Inland Revenue (Amendment) Act No. 4 of 2023 The information to be regularly provided is prescribed by the Minister of Finance, Economic Stabilization and National Policy.

The information prescribed by Schedule I of the Gazette Notification by persons including government institutions shall be submitted to the Commissioner General of Inland Revenue (CGIR) subject to the conditions mentioned in Schedule II through a web-based platform or as approved by the Commissioner General of Inland Revenue (CGIR). should be given through another electronic platform. The required internet connection/ method of providing information will be notified later.

As per the said gazette notification, the following persons / government bodies should provide the said information.

1. The Registrar General in the Registrar General's Department.

2. The Registrar General of Companies in the Registrar of Companies Department,

3. Motor Transport Commissioner General, Motor Transport Department,

4. Awarding contracts for the provision of goods, work, or consulting and non-consulting services

Officers of any government agency in charge,

5. Any financial institution including banks and non-bank financial institutions regulated by the Central Bank of Sri Lanka.

6. Chairman of the Colombo Stock Exchange.

Information under Schedule I of Gazette Notification No. 2376/25 dated 21.03.2024

You are hereby informed that the date of commencement of supply is 01.07.2024.

This Public Notice is issued as specified in Item 4 of Schedule II of the Extraordinary Gazette Notice and the Gazette can be downloaded through the following link.

http://documents.gov.lk/files/egz/2024/3/2376-25. S.pdf

If any clarification is required regarding submission of information, please contact IRD Call Center (1944).