20/09/2025
๐ ๐ถ๐๐๐ฒ๐ฑ ๐ฌ๐ผ๐๐ฟ ๐ฎ๐ฌ๐ฎ๐ฐ/๐ฎ๐ฑ ๐๐ป๐ฐ๐ผ๐บ๐ฒ ๐ง๐ฎ๐
๐๐ฒ๐ฎ๐ฑ๐น๐ถ๐ป๐ฒ๐? ๐ฅ๐ฒ๐ฎ๐ฑ ๐ง๐ต๐ถ๐ ๐๐ฒ๐ณ๐ผ๐ฟ๐ฒ ๐๐ ๐๐ผ๐๐๐ ๐ฌ๐ผ๐
The Sri Lankan Inland Revenue Department (IRD) sets clear deadlines for Individual Income Tax (IIT).
For the Year of Assessment 2024/25:
๐๐ถ๐ป๐ฎ๐น ๐ฝ๐ฎ๐๐บ๐ฒ๐ป๐ ๐ผ๐ณ ๐ฏ๐ฎ๐น๐ฎ๐ป๐ฐ๐ฒ ๐๐ฎ๐
: 30 September 2025
๐ฅ๐ฒ๐๐๐ฟ๐ป ๐ผ๐ณ ๐ถ๐ป๐ฐ๐ผ๐บ๐ฒ: 30 November 2025
These dates come straight from the IRDโs official tax calendar. Missing them is more than an inconvenienceโit brings automatic financial penalties and legal risk under the Inland Revenue Act.
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๐ญ. ๐๐ฎ๐๐ฒ ๐๐ถ๐น๐ถ๐ป๐ด ๐ผ๐ณ ๐ฅ๐ฒ๐๐๐ฟ๐ป
(Section 178 of the Inland Revenue Act)
If you file after 30 November 2025, the IRD charges the higher of:
5 % of the tax due plus 1 % for every month (or part of a month) late, or
Rs. 50,000 plus Rs. 10,000 for every month (or part of a month) late
The maximum penalty is Rs. 400,000 per return.
Failing to file at all is treated as an offence, with possible court fines up to Rs. 1 million or imprisonment.
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๐ฎ. ๐๐ฎ๐๐ฒ ๐ผ๐ฟ ๐ก๐ผ๐ป-๐ฃ๐ฎ๐๐บ๐ฒ๐ป๐ ๐ผ๐ณ ๐ง๐ฎ๐
(Section 179)
If an instalment is unpaid for more than 14 days past its due date, a 10 % penalty is added.
If the final balance tax is unpaid 14 days after 30 September 2025, a 20 % penalty applies.
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๐ฏ. ๐๐ป๐๐ฒ๐ฟ๐ฒ๐๐ ๐ผ๐ป ๐จ๐ป๐ฝ๐ฎ๐ถ๐ฑ ๐ง๐ฎ๐
(Sections 157 & 159)
On top of penalties, interest of 1.5 % per month (or part of a month) is charged until the tax is fully paid.
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๐ฐ. ๐ฅ๐ฒ๐ฐ๐ผ๐๐ฒ๐ฟ๐ ๐๐ฐ๐๐ถ๐ผ๐ป
If you neither file nor pay, the IRD can issue a default assessment and recover tax, penalties, and interest directlyโby attaching bank accounts or other receivables.
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๐๐
๐ฎ๐บ๐ฝ๐น๐ฒ ๐ผ๐ณ ๐๐ต๐ฒ ๐๐ผ๐๐
Suppose Rs. 200,000 is due and the return is filed six months late:
Late-filing penalty:
5 % (Rs. 10,000) + 1 % ร 6 months (Rs. 12,000) = Rs. 22,000, or
Rs. 50,000 + Rs. 10,000 ร 6 = Rs. 110,000
โ The IRD charges Rs. 110,000 (the higher figure).
If payment is also late: 20 % penalty (Rs. 40,000) plus 1.5 % monthly interest until full settlement.
Even one missed deadline can therefore double your cost.
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๐๐ผ๐ ๐๐ผ ๐ฃ๐ฟ๐ผ๐๐ฒ๐ฐ๐ ๐ฌ๐ผ๐๐ฟ๐๐ฒ๐น๐ณ
File and pay on time. Mark 30 September and 30 November 2025 on your calendar.
If already late, act immediately. Penalties and interest increase every month.
Keep proof of all tax credits (APIT, AIT, WHT) to reduce the โtax dueโ amount.
If cash flow is tight, contact the IRD for a time-to-pay arrangement. Interest still applies, but it can prevent harsher action.
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๐ช๐ต๐ ๐ฆ๐บ๐ฎ๐ฟ๐ ๐ง๐ฎ๐
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