The Sri Lankan government has postponed the mandatory opening of tax files from January 1st to February 1st. This move is intended to give people more time to comply with the new requirement.
“Public can log into the IRD website and register themselves through the online system. You only need an National Identification Card to open an account,” Finance State Minister Ranjith Siyambalapitiya said.
Minister said that although it’s mandatory to register with the department, only if a person exceeds monthly income of Rs. 100,000, they have to pay taxes.
According to budget 2024, Tax Identification Number will be made a mandatory requirement to
(a) Open bank current account at any bank;
(b) Obtain approval for a building plan, by the applicant
(c) Register a motor vehicle or renew license, by the owner
(d) Register a land or title to a land, by the buyer
Source: newsin.asia
