The U.S. Embassy in Sri Lanka has issued a stern reminder to foreign nationals visiting the United States that reliance on taxpayer-funded benefits can carry severe consequences.

According to the embassy, non-immigrant visa holders who abuse or become dependent on public assistance risk having their visas revoked. 

The US Embassy further warned that such violations may also render them ineligible for future visas. 

“Make sure you’re prepared to pay your own way when visiting the United States,” the embassy cautioned.

The statement reflects broader U.S. immigration policy, which calls for self-sufficiency among foreign visitors and seeks to prevent misuse of public resources. (Newswire)

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KPMG, one of Sri Lanka’s leading business consulting firms, has published a synopsis of the recently issued revised circular pertaining to non-cash benefits provided in employment for employees. 

As per the revised circular issued by the Department of Inland Revenue, the benefits primarily include company shares, residence, transport facilities, communication facilities, and non-cash benefits provided to an employee.

The synopsis of the revised circular by KPGM is as follows:

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The Department of Inland Revenue has issued a revised circular pertaining to the relaxation of certain incentives provided at employment for an employee.

As per the revised circular, the benefits primarily include company shares, residence, transport facilities, communication facilities, and non-cash benefits provided to an employee.

The calculation of an employee’s gains and profits for any month commences on January 01, 2023, according to the circular.

The amounts to be included as benefits to be received or derived by such employee from the employment are specified by the Commissioner General of Inland Revenue (CGIR) in terms of the provisions of the Inland Revenue Act, No. 24 of 2017.

The revised circular has been approved by President Ranil Wickremesinghe in his capacity as the Minister of Finance.

Meanwhile, State Minister of Finance Ranjith Siyambalapitiya has confirmed that the Department of Inland Revenue has issued a circular to exempt noncash benefits of employees’ income from the Pay-As-You-Earn (PAYE) Tax.

“The Inland Revenue Department has issued a circular to exempt noncash benefits of employees’ income, including vehicle & fuel allowances, housing, medical benefits etc. from the PAYE tax,” State Minister Siyambalapitiya told Ada Derana. (NewsWire)

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