Registration with the Inland Revenue Department has been made mandatory for all persons who receive a monthly payment of more than one lakh rupees and for professionals working in several sectors and for persons who own businesses, property or certain vehicles in Sri Lanka.
The relevant gazette announcement has been issued by President Ranil Wickramasinghe as the Minister of Finance and Economic Stabilization.
Accordingly, the professionals who must be registered with the Inland Revenue Department are as follows:
Sri Lanka Medical Council registered doctors
Registered members of the Institute of Chartered Accountants of Sri Lanka
Members of the Institute of Certified Management Accountants of Sri Lanka
Members of Sri Lanka Institute of Engineering
Members of Sri Lanka Bankers Association
Members of the Association of Architects of Sri Lanka
Members of the Institute of Quantity Surveyors of Sri Lanka
Supreme Court Advocates
Persons who have registered businesses under the Divisional Secretary
Persons whose vehicles are registered with the Department of Motor Vehicles (except three-wheelers, motorcycles and hand tractors)
Persons who have purchased or acquired an immovable property in Sri Lanka and exchanged a deed
Employees who are entitled to any gratuity fund with a monthly contribution of more than Rs.20,000 from both sides of the employer-employee
Anyone who has received building planning approval from the local authority
Any other person receiving a monthly salary of Rs.100,000 or Rs.1,200,000 annually in Sri Lanka
In addition to this, all those who have completed the age of 18 years on December 31st of this year are to be registered under this.
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