The government has issued Gazette Notice 2376/25 requiring all individuals and institutions to report movable and immovable property details to the Inland Revenue Department (IRD) starting July 1.
- Ownership details of registered land, property, and transfers must be reported to the Commissioner General of Inland Revenue (CGIR) in real-time via electronic platforms.
- Institutions involved include the Registrar General’s Department, Companies Registrar, Motor Traffic Commissioner, government contract agencies, financial institutions, and the Colombo Stock Exchange.
- Data collected will be integrated into the Revenue Administration Management Information System (RAMIS) risk module.
- Financial institutions must report quarterly data by the 20th day following each quarter's end.
- Non-compliant entities must start maintaining required information from July 1, 2024.
- Ownership details of registered land, property, and transfers must be reported to the Commissioner General of Inland Revenue (CGIR) in real-time via electronic platforms.
- Institutions involved include the Registrar General’s Department, Companies Registrar, Motor Traffic Commissioner, government contract agencies, financial institutions, and the Colombo Stock Exchange.
- Data collected will be integrated into the Revenue Administration Management Information System (RAMIS) risk module.
- Financial institutions must report quarterly data by the 20th day following each quarter's end.
- Non-compliant entities must start maintaining required information from July 1, 2024.
