Year
1932 Income Tax Department was established
1932 Income tax (1)* was first introduced
1932 Mr. N. J. Huxham was appointed as the first Commissioner to administer tax
1933 Renamed the department as “Department of Income Tax , Estate Duty and Stamps”
1941 Excess Profits Duty (2*) introduced
1948 Profit Tax introduced instead of Excess Profits Duty introduced
1950 First Double Tax agreement signed with U. K.
1958 Named the Department as “Department of Inland Revenue”
Introduced Capital gain (3*) , Wealth Tax (4*) , Expenditure Tax (5*) , Gifts Tax (6*)
1961 Introduced of Surcharge on Income Tax (7*) National Development Tax (8*) Rice
subsidiary Tax (9*) Surtax, a tax on registration of Business and Professionals (10*), Sales Tax (11*)
1963 Established first Region office at Jaffna
Introduced Business Turnover Tax (12*)
1964 First Tax Amnesty
1971 Introduced Compulsory Saving Levy (13*), PAYE Scheme (14*), Capital Levy (15*)
1972 Self Assessment Scheme introduced
1974 The Department of Inland Revenue restructured, Inland Revenue Service was established
1979 Current year basis taxation introduced
1983 Introduced Rehabilitation Levy (16*)
1985 Abolished Estate Duty & Gifts Tax
1986 Introduced WHT on Interest (17*)
1988 Introduced Betting and Gaming Levy (18*)
Implemented “Imputation System” of Company Tax
1991 Devolution of Turnover Tax to Provincial Councils
1992 Introduced WHT on Specified Fee (19*) Defence Levy (20*)
1998 Introduced Goods and Service Tax (GST) (21*) instead of Turnover Tax
2000 Inland Revenue Act No. 38 of 2000
2002 Introduced Value Added Tax (VAT) and Debits Tax (22*)
Abolished GST, Defence Levy (NSL), Stamp Duty
2004 Introduced Economic Service Charge (23*)
2005 Introduced Social Responsibility Levy (24*) and Share Transaction Levy (25*)
2009 Introduced Nation Building Tax (NBT)
- Type of taxes in Sri Lanka
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