Option to disable tax registration if there is no taxable income or profit.

The Department of Inland Revenue has issued a notification stating that if there is no income to pay taxes due to the completion of business activities or lack of income sources, even if registered to pay income tax, the registration done for that can be cancelled.

According to the announcement, if there is insufficient income or profit to pay, documents that can prove it must be submitted online to the department before the 30th of this month.

According to Inland Revenue Commissioner General Sepalika Chandreskara, from the first of April 2023 to the 31st of March 2024 for the assessment year 2023 / 2024, the facility of submitting income reports can be obtained by visiting the department’s website www.ird.gov.lk.