Sri Lanka’s Inland Revenue Department warns Persons with no TIN could face a penalty up-to Rs. 50,000

Tax in Sri Lanka

Sri Lanka’s Inland Revenue Department warns persons who have not obtained a Taxpayer Identification Number (TIN) will be subjected to a penalty not exceeding Rs. 50,000, with effect from January 01, 2024.

In a notice to the public, the Inland Revenue Department (IRD) reiterated it is mandatory for persons at the age of 18 or more, or who turn 18 years on or after January 01, 2024, to register and obtain a TIN.

Further, any person receiving an income exceeding Rs. 1,200,000 for a year of assessment (from April 1 of a year to March 31 of the following year) must register for income tax.

The general public has the option of registering online at www.ird.gov.lk, requesting registration by post, or registering in person at the IRD.