Sri Lanka IRD Sets VAT Payment, Filing Deadlines and Enforces Strict Penalties for Non-Compliance

Sri Lanka’s Inland Revenue Department (IRD) reminded taxpayers that VAT for the period ending 31 March 2026 must be paid by 20 April 2026 and returns filed by 30 April 2026.
Strict penalties will apply for late payment, non-compliance, or incorrect returns, with no waivers or reductions allowed.
Specific tax and period codes must be used for monthly and quarterly filers.
Input tax credits on domestic purchases must be claimed within 12 months, and on imports within 24 months; late filing may result in disallowed credits.
Taxpayers are advised to use correct filing frequencies and period codes to ensure compliance.

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.