Srilanka, June 23 -- The Commissioner General of Inland Revenue has issued a special notice outlining a wide range of changes to taxation, exemptions, withholding taxes, taxpayer registration requirements and the use of the Taxpayer Identification Number (TIN) following the enactment of the Inland Revenue (Amendment) Act, No. 11 of 2026.



The amendment, certified on June 3, 2026, introduces several significant reforms affecting individuals, businesses, professionals, investors, and financial institutions.



The Commissioner General of Inland Revenue issuing a statement noted that among the key changes is the exemption of gains arising from the sale of personal motor vehicles from being treated as taxable "other income." The provisio...