All taxpayers urged to settle 2023/2024 income tax payments by September 30

28 September 2024 10:58 am Views - {{hitsCtrl.values.hits}} 21 Bookmark

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Colombo, September 28 (Daily Mirror)- The Inland Revenue Department has urged all taxpayers to ensure that their final income tax payments for the 2023/2024 Year of Assessment are made by September 30, 2024.

The Department said failure to make the payments by the deadline will result in penalties and interest charges and that the penalties and interest imposed for non-payment or late payment of income tax will not be waived off or reduced.

The Inland Revenue Department also urged taxpayers to clear outstanding default taxes on or before October 30, 2024 and that any unpaid default taxes by that date will be subject to rigorous collection actions, including legal proceedings in terms of the Inland Revenue Act.

Comments - 21

Ram P Saturday, 28 September 2024 11:36 AM

The penalties must be a minimum of 15% of the tax due at the time of default. When the rules become deterrent payment of arrears will come faster

3 14

Go All Out To Catch The Tax Dodger’s Saturday, 28 September 2024 11:37 AM

Good move. Give the average person another month or install payment via their pay-check before salary is credited to their account. Remember, majority are still struggling and withheld payments as previous regimes were not transparent with their expenditures. For those well off, by all means start the legal process to collect the taxes and fines if deadline is not met.

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WELL DONE I.R. DEPT. NOW FOLLOW THROUGH. Saturday, 28 September 2024 11:54 AM

EXCELLENT DECISION, NOW YOUR TALKING, THREE CHEERS FOR THE INLAND REVENUE DEPARTMENT.HOPE THEY HAVE JAIL TIME IF THEY DO NOT PAY ON TIME AND OR BUSINESSES HALT OPERATIONS UNTIL DEBTS AND OR TAX IS PAID. WE HOPE THE I.R. DEPT. WILL KEEP HOT ON THE HEELS OF THE ONES WHO HAVE NOT PAID THEIR TAXES FOR YEARS AND GIVING LAME EXCUSES.

3 15

John frazer Saturday, 28 September 2024 12:01 PM

That’s a fair statement. All western countries have the similar rule if taxes are not paid on time end up paying interest and penalties.

1 16

Sokrates Saturday, 28 September 2024 12:08 PM

Very good. No mercy for tax evaders and fraudsters. An iron fist is needed to clean up this swamp. A country cannot survive without taxes. The biggest tax evaders are large traders and companies anyway, such as distilleries.

1 21

J.M. Jinadasa - Industrialist Saturday, 28 September 2024 12:21 PM

Yes, this has to be monitored. We know AKD will give some relief for the Taxpayers after the election, however, it is our responsibility to pay the taxes.

2 16

Prof. K.W. Wickramanayake Saturday, 28 September 2024 12:25 PM

His Excellency President Anura Kumara Dissanayake, one small request. Please see that all the previous Ministers, State Ministers and MPs. whether they have paid their taxes promptly. If not, take appropriate action against them. Mahinda, Namal, Shiranthi, Sirisena, Wijedasa Rajapakshe .... should be checked first.

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Rip Winkle Saturday, 28 September 2024 12:31 PM

Please recover the long outstanding unpaid taxes from liquor manufacturers/distilleries, first and foremost.

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Athk69 Saturday, 28 September 2024 12:38 PM

IRD must consider keeping their office open on week days beyond 4.30 and on Saturdays so that tax payers aren't inconvenienced when returns need to be filed closer to IRD imposed deadlines. At least during the week prior to such deadlines.

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Taxpayers Saturday, 28 September 2024 12:43 PM

What's the fairness IRD has on refunds? Can the taxpayers demand a penalty for holding the refunds by IRD for years? IRD needs to demonstrate the trust that taxpayers can keep on them. I hope the new President will look into the sheer inefficiency in IRD.

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Manu Saturday, 28 September 2024 01:50 PM

at least 15% of interest / impoundment of property and vehicles.

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Hard Truth Saturday, 28 September 2024 02:24 PM

Many have commented for other news, but no songle comment for this tax collection news. This clearly shows how our society behvaes when pyaing taxes.

3 8

Suhada malli Saturday, 28 September 2024 04:32 PM

30 Sept is the deadline for tax collection by law. And those who fail to submit returns on time has to pay penalty also by law. So this is not a new deadline imposed by our new president nor is it something to be talking about.

3 9

Reminder For Tax Dodgers Sunday, 29 September 2024 08:35 AM

@Suhada - take it as a reminder which previous regimes didn’t do. Tax officials are always upset on the amount of yearly tax dodger. With a new governing team, take this reminder of your responsibility as a SL citizen and also they mean business for all wrong doers and tax dodgers.

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Clara Thattil Saturday, 28 September 2024 03:48 PM

Excellent. Way to go !

1 6

Suren Saturday, 28 September 2024 04:17 PM

This is a very good move. Measures should be taken as soon as possible to bring tax evaders into the tax network. Also legal action should be taken against people who have defaulted repayment of loans taken from public banks such as people's bank. I am sure many ex politicians and people with political connections will be found in the list of long outstanding debts.

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Curious Sunday, 29 September 2024 06:13 AM

Tax laws are applicable only to those who have Tax files. Honest earners and tax payers also have grievances. Just see the fuel guzzling luxury vehicles lined up in front of the popular schools in Colombo offering free education. Something wrong somewhere.

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Ranjith Sunday, 29 September 2024 08:57 AM

All employees have to pay taxes irrespective of public or private sector and all entrepreneurs irrespective of their profession, even a single bus owener should pay taxes, always don't talk about politicians there are many citizens avoiding paying taxes collecting taxes nothing to do with politics it's our duty to pay taxes.

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Ranjith Sunday, 29 September 2024 08:57 AM

All employees have to pay taxes irrespective of public or private sector and all entrepreneurs irrespective of their profession, even a single bus owener should pay taxes, always don't talk about politicians there are many citizens avoiding paying taxes collecting taxes nothing to do with politics it's our duty to pay taxes.

0 1

Manu Sunday, 29 September 2024 05:06 PM

everybody should pay taxes after 18th birthday. Starting with tax on person e.g. LKR 360 per year (30 Rupees per month). There has been 17'140'354 electoral registered people. Means 61'705 lakhs per year!! Let's say /- rounded = actually about 17'500 millions of USD. Additionally implementing a more progressive tax scheme than existing. This is just one point to take account of. Minimum wage, maximum working hours a week, days off, all the Bank and other holidays also has to be reconsiderd. Isn't it?

1 1

Namal Sunday, 29 September 2024 07:51 PM

Super luxury elder home for senior citizens in Australia. The project is owned by Rosh Jalagge, the Honorary Consul for Sri Lanka in Western Australia appointed by the Rajapaksa govt. The rumor in Sri Lankan circles in Australia is that this is funded by the Rajapaksa family to launder money being held in Australia, including bribes paid to secure an aircraft deal for Srilankan, the details of which were bared by Airbus officials in a case filed against it in the London High Court. May be at the very least, Sri Lanka should ship MR, GR and spouses currently funded by the tax payer under a parliamentary act re retired Presidents, to Western Australia. Good riddance…

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