Notification regarding Rates of Exchange effective from 26.09.2022(dated-26.09.2022)-Dept. of Customs.

• The Notification relating to the Rates of Exchange published in Gazette No. 2298/01 of 19th September 2022 is hereby rescinded, refer attachment for further details.

Notification of the Imports Control Regulations on Payment Terms No.15 of 2022(dated-16.09.2022)-Ministry of Finance.

• Amendment were made, refer attachment for further details.

Bill notification of the Industrial Disputes (Amendment) Act, No.24 of 2022(dated-16.09.2022)-Govt. of Sri Lanka.

Press release regarding Imposition/collection of administrative penalties by the Financial Intelligence Unit (FIU) to Enforce Compliance on Financial Institutions (dated-15.09.2022) – Central Bank of Sri Lanka.

• The administrative penalty was imposed for non-compliance with Section 9 (1) of the FTRA regarding the duty not to divulge information, as it was revealed that, there had been a breach in the Sampath Bank’s process of filing of Suspicious Transactions with the FIU, and that the breach amounted to limited disclosures that should have been prevented by the Bank, refer attachment for further details.

Bill notification of the Industrial Disputes (Amendment) Act, No.22 of 2022(dated-16.09.2022)-Govt. of Sri Lanka.

Notice regarding Improving OSH in Factories and construction sites by establishing safety and health committees (published on 15.09.2022)-Dept. of Labour.

• Improving OSH in factories and construction sites by establishing safety and health committees Industrial Safety Division of the Department of Labour has initiated establishing safety and health committees in factories and construction sites from 2022 in view of improving OSH in industry.
• It is expected that function of Safety and health committees will help organizations to improve productivity. You are required to establish safety and health committees in your organization with the participation of employees. Details of the committee should be forwarded to the relevant District Factory Inspecting Engineer and the DFIE will guide you as and when required, refer attachment for further details.

Notice – Withholding Tax (WHT), Advanced Income Tax (AIT) (published on 13.09.2022)-Inland Revenue Department.

• Payment Period Code – 22080
• Payments can be made through Online Tax Payment Platform (OTPP) or to any branch of Peoples Bank.
• The penalties imposed for failure to make these payments on or before the due date would not be waived off or reduced, refer attachment for further details.

Sri Lanka food exporters want faster certification-Economy Next.lk.

Notice regarding Advanced Personal Income Tax (APIT) (published on 13.09.2022)-Inland Revenue Department.

• Payment Period Code – 22080
• Payments can be made through Online Tax Payment Platform (OTPP) or to any branch of Bank of Ceylon
• The penalties imposed for failure to make these payments on or before the due date would not be waived off or reduced, refer attachment for further details.

Notice regarding Value Added Tax, Value Added Tax on Financial Services (VAT on FS) (published on 13.09.2022)-Inland Revenue Department.

• Filing VAT returns – on or before September 30, 2022
• Period Code for Monthly Return (August) – 2232
• Filing VAT on FS Return – on or before September 30, 2022
• Period Code for Assessment Year Basis Return(Y/A 2021/2022) – 2122
• Penalties imposed for failure to make the payments on or before the due date would not be waived off or reduced, refer attachment for further details.

Notification regarding Rates of exchange Effective from 12.09.2022(dated-12.09.2022)-Dept. of Customs.

• The Notification relating to the Rates of Exchange published in Gazette No. 2296/01 of 05th September 2022 is hereby rescinded, refer attachment for further details.

Notification of the Imports and Exports (Control) Regulations No.14 of 2022(dated-009.09.2022)-Ministry of Finance.

• Notification has been issued on relaxation of import ban on over 150 items under Imports and Exports (Control) Regulations No. 13 of 2022, refer attachment for further details.

Speaker ratifies the Electricity (Amendment) Bill-Colombo Page

Controls on capital forex transactions to be extended-FT.LK

Notification regarding Rates of Exchange effective from 13.06.2022 – Dept. of Customs

The Notification relating to the Rates of Exchange published in Gazette No. 2283/01 of 06th June, 2022 is hereby rescinded, refer attachment for further details.