APIT Sri Lanka (Advance Personal Income Tax) 2023 been published by IRD, Sri Lanka
The Inland Revenue Department (IRD), Sri Lanka, published recent major changes in the Sri Lankan income tax system. And it causes huge pressure in the Sri Lankan economy. After the failure of GR (The former presidents) visions, people of Sri Lanka have been suffering from a serious economic crisis. The recent Tax upgrade will be a big burden for them and most of the opposition parties are against the sudden tax increase.
As per the IRD, Sri Lanka the new income tax relief is 1200,000 LKR. In the previous amendment in 2022, it was 3,000,000. So this time most of the nonresident employees and the citizens of Sri Lanka have to pay much of their personal income.
And calculations are gonna be more complicated with new tax brackets. To learn the detailed PIT calculation processes and ease your payroll burden, click here — APIT Sri Lanka 2023.
