Sri Lanka: Guidelines for withholding agents on withholding tax and advance income tax
New guidelines issued under Circular No. SEC/2026/E/04 for implementing withholding and advance income taxes.
The Department of Inland Revenue on June 8, 2026, published guidance for withholding agents.
Circular No. SEC/2026/E/04 provides explanatory notes and sets out the guidelines to be followed by withholding agents in facilitating the implementation of withholding tax and advance income tax in accordance with the provisions of the Inland Revenue Act, No. 24 of 2017 and its amendments.
Read a June 2026 report prepared by the KPMG member firm in Sri Lanka