With the complexity of increasing challenge to comply with tax regulations, there is a greater increased demand to engage with expertise tax accountant / professionals. It is also identified that tax compliance as one of controlling point that measured the existence of proper internal controls with the business.
Our firm comprised with well expertise tax team providing wide range of taxation services like compliance and resolving tax disputes with tax authorities in meeting the taxation obligations and responsibilities of our clients. We also help clients to identify tax planning opportunities and providing specialized advisory services to minimize our client’s tax liabilities within the existing tax regulations and frameworks.
Our tax team provides even greater force in tax disputes and is now a recognized leader across the tax sphere, handles a mixture of direct and indirect tax advisory, transactions and litigation matters that are major features of our tax practice. We have experienced in working with various tax matters for a diversified client based throughout our service.
Tax compliance refers to fulfilling all tax obligations as specified by tax laws, which consists of submitting tax returns with the stipulated period, ascertain the accuracy of the tax liability and advising assessed taxes by the due dates. As Tax consultants, we are always involving new ways to minimize tax burden through effective tax compliance and to meet financial goals within the framework of laws applicable. In Sri Lankan system of taxation is divided into two types: One is Direct Taxes and other is Indirect Taxes.
Due date for filing Income tax return
Every Company and liable individual persons including foreign companies must file their income tax return on or before September 30 every year. Income tax act requires all companies to get their accounts audited and submit an audit report to the IRD along with the Income tax return. Both Income and Corporate Tax is an ocean full of provisions which all persons need to comply with. Keep reading to know what those provisions are, rules that the persons need to follow.