Professionals belonging to 14 categories required to register with Inland Revenue Department from June 01
A special gazette notification has been issued making it mandatory for professionals belonging to 14 categories including Doctors, Engineers, Chartered Accountants and Architects to register themselves with the Inland Revenue Department (IRD) from today (June 01).
The Gazette notification was issued by President Ranil Wickremesinghe on May 31, in his capacity as the Minister of Finance, Economic Stabilization & National Policies, pursuant to the powers vested in him under Sub Section 03 of Section 102 of the Inland Revenue Act No. 24 of 2017.
As per the Gazette notification, employees whose monthly contribution from both employee and employer to any Provident Fund exceeds Rs. 20,000 are also required to register with the IRD.
Accordingly, the following professionals are required to register themselves with the IRD with effect from today (June 01):
- Practitioners registered with the Sri Lanka Medical Council (SLMC)
- Members of the Institute of Chartered Accountants of Sri Lanka
- Members of the Institute of Certified Management Accountants of Sri Lanka
- Members of the Institution of Engineers Sri Lanka
- Members of the Association of Professional Bankers
- Members of the Sri Lanka Institute of Architects
- Members of the Institute of Quantity Surveyors Sri Lanka
- Attorneys-at-Law of the Supreme Court of Sri Lanka
- Individuals who have registered their businesses in Divisional Secretariats
- Individuals who are in possession of vehicles registered (other than three-wheelers, motorcycles and hand tractors) with the Motor Traffic Department
- Individuals who have purchased or acquired, by virtue of Deeds Transfer, of any immovable property in Sri Lanka on or after April 01, 2018
- Employees whose monthly contribution from both employee and employer to any Provident Fund is more than Rs. 20,000
- Any individual who obtains approval for a building plan from a Local Authority
- Any other individual who receives payment of Rs. 100,000 per month or Rs. 1,200,000 for a 12-month period for providing any services in Sri Lanka
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