The Speaker of House, Dr. Jagath Wickramaratne has endorsed the certificate on the Inland Revenue (Amendment) Bill.
The Inland Revenue (Amendment) Act, No. 11 of 2026, which amends the Inland Revenue Act, No. 24 of 2017, was passed on May 19, 2026.
The Act modernizes tax administration procedures, clarifies existing provisions, enhances tax compliance and enforcement, improves the accuracy of tax calculations and deductions, supports strategic economic objectives, and strengthens transparency and anti-money laundering measures, according to the Communications Department of Parliament.
Key changes include the mandatory use of Taxpayer Identification Number (TIN) certificates for certain significant financial transactions, several revisions to the calculation of income, greater clarity regarding tax exemptions for specific projects and businesses and an expanded scope for the disclosure of information to relevant authorities.
Accordingly, the Inland Revenue (Amendment) Bill comes into force as the Inland Revenue (Amendment) Act No. 11 of 2026.
