Sri Lanka's Inland Revenue Department recently issued a notice reminding taxpayers that the tax on voluntary disclosure is valid until 31 March 2022.

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Tax on Voluntary Disclosure (TVD) - Finance Act, No. 18 of 2021

Valid till March 31, 2022

Declare undisclosed taxable supply, income or asset by paying 1% tax and avoid investigation, interest, penalty or prosecution on any undisclosed amounts

Explanatory Notes for imposition of Tax on Voluntary Disclosure and a Guideline on the manner of payment and filing declarations can be downloaded from IRD web site

Please regularly refer to the Inland Revenue website for updated information

COMMISSIONER GENERAL OF INLAND REVENUE