Sri Lanka’s Inland Revenue Department says the annual income report for the assessment year 2022/2023 should be submitted to the department before November 30, 2023.

Officials of the department said, according to the existing Inland Revenue Law, the annual income report for the assessment year 2022/2023, which is from April 01, 2022, to March 31, 2023, must be submitted before November 30, 2023.

The officials further pointed out that a fine of 50,000 rupees and 5% of the tax payable will be imposed on those who maintain tax files without submitting the report by the said date.

The Inland Revenue Department officials revealed this at a workshop conducted on the completion of the annual income report and submissions for state officials, including Members of Parliament, on Monday (Nov 27).

The workshop was organized by the Sectoral Oversight Committee on Alleviating the Impact of the Economic Crisis, with the contribution of resources from the Inland Revenue Department.

It was Chaired by the Chairman of the Parliamentary Committee, MP Gamini Waleboda and was attended by State Ministers, a number of Members of Parliament, and officials of Parliament.

Senior Commissioner Sujeewa Senadheera, Senior Deputy Commissioner Nandana Kumara and Senior Deputy Commissioner M.H.D. Meneripitiya participated in the briefings on behalf of the Inland Revenue Department.

The officials of the Inland Revenue Department also provided a briefing, as per the provisions of the current income tax law, on the provision of income reports and the situations that may arise due to the failure to provide those reports.

Announcing that income tax files have been opened for all Members of Parliament, practical explanations were given on completing the income report through the website of the Inland Revenue Department and submitting it online to the department’s computer system.

During the briefing, Members of Parliament also inquired from the officials regarding issues that may arise when submitting the report.