Sri Lanka Tax Agency Issues Notice Implementing Social Security Contribution Levy

The Sri Lankan Inland Revenue Department Sept. 22 issued Notice No. PN/SSCL/2021-01, implementing the introduction of a 2.5 percent social security contribution levy, effective Oct. 1. The notice provides: 1) a list of taxpayers who must pay the levy, including importers, manufacturers, service providers, wholesalers, and retailers; 2) the Oct. 15 registration deadline for taxpayers who exceed the 120 million rupees (US$329,681) threshold during the 12 previous months; 3) the obligation for any other taxpayers to register within 15 days from the date their quarterly turnover exceeds 30 million rupees (US$82,420); 4) the registration process for taxpayers who already have ...