🚨Today Nov 30, Last Day to File Tax Returns for 2023/2024 Y/A! 🇱🇰

Nov 30, 2024, is the mandatory deadline for filing tax returns with Sri Lanka's Inland Revenue Department (IRD). If you have a TIN, filing is must:

⭕ No Income? File NIL Returns: Avoid penalties by filing a NIL return if you have no taxable income.

⭕ Late Filing Penalty: The higher of 5% of the unpaid tax (gap) plus 1% per month, or Rs. 50,000 plus Rs. 10,000 per month of delay.

⭕ Extended Audit Period: Filing today limits IRD assessments to 30 months (till May 2027). Filing late extends this window to 4+ years.

Note: Fraud Cases: No time limits on assessments for underreporting or evasion.

⭕ Non-Filing Penalty (Sec. 189): Fine up to Rs. 10M, imprisonment for 2 years, or both.

⭕ File your returns by midnight Today, to stay compliant. The IRD has decided to open its offices today, to assist taxpayers in meeting the deadline.

Here is a video that may help you navigate the RAMIS system & answer a few questions you may have about the process.
https://t.co/kghwrkG8Q7

Good luck 🙏

#SriLanka #TaxDeadline