Sri Lanka Inland Revenue has issued a notice to taxpayers on the filing of the Notification under the Country-by-Country reporting (CbCR) rules. The notice provides that MNE Groups whose total consolidated group revenue is not less than EUR 750 million or its equivalent in Sri Lanka Rupees is required to file the CbCR Notification on or before 31 December 2021, for the Fiscal Year beginning on or after 1 January 2021. For this purpose, a basic template (format) is provided for the notification, which must be submitted:
- By e-mail to: itp@ird.gov.lk; or
- By Post to: The Commissioner, Secretariat Branch, Department of Inland Revenue, Chittampalam A Gardiner Mawatha, Colombo 02.
It is also noted that the ultimate parent or its surrogate parent may furnish along with this Notification the list of its constituent entities of the MNE group, instead of each constituent entity furnishing the Notification.