Sri Lanka's
IRD mandated TIN registration for all citizens 18 and older from Jan 1, 2024, regardless of income. The gov's plan is to mandate a TIN number for daily transactions like opening bank accounts, vehicle registration, and property ownership.
The IRD database now has 2.3M TIN numbers, with 1.3M issued in June alone. They aim to reach 7.3M registrations by the end of July.
They are now using this TIN database to send tax payment reminders, affecting even those who may be exempt from filing taxes.
Historically, having a TIN meant filing at least a null return. But with the new 18+ policy, initially IRD suggested no null returns were needed for incomes below Rs. 100,000/month.
State Minister of Finance, Ranjith Siyambalapitiya, confirmed that individuals with monthly incomes below Rs. 100,000 are exempt from tax. However, it's not clear whether they need to submit a null return or not.
Since not filing tax returns can subject individuals to fines and penalties under the IRD Act, the IRD needs to clearly communicate who should file returns and who shouldn't.
2024 June wala withrak 1.3 million aluthin register karawala..
2024 July wala witharak 5 Million aluthin register karanna plan karan idala... at least 2 millionwath karala athi.
