Individuals required to register new income tax accounts as per a recent Gazette notification will not be questioned on their tax returns of previous years, State Minister of Finance Ranjith Siyambalapitiya said in Parliament yesterday.
State Minister Siyambalapitiya stated that the income tax applies to the year 2022/2023.
He further assured that questions will not be raised on the tax returns of previous years if there are no special circumstances.
“We expect starting from this year, to make them participate in increasing the state revenue. In Sri Lanka, tax returns are filed voluntarily and as long as accounts are kept accurately there is nothing to worry about,” the State Minister said.
Stating that people do not require to proceed through tax consultants for this process, he added that the Department of Inland Revenue will set up a call centre shortly to answer public questions.
State Minister of Finance Ranjith Siyambalapitiya briefed the Parliament in this regard after concerns were raised by several persons pertaining to past tax returns and the impact on their wealth.
On June 01, the government issued a Gazette notification making it mandatory for professionals from 14 categories to be registered with the Department of Inland Revenue.
Doctors, Engineers, Chartered Accountants, Architects, and Attorneys-at-Law of the Supreme Court, among others, are on the list of selected professionals.
As per the Gazette, the eligible professionals were required to register with the Department of Inland Revenue from June 1st, 2023.
Individuals aged 18 years were also required to register with the Department of Inland Revenue as per the Gazette, for the distribution of Welfare Benefits under the income tax account. (NewsWire)
