Inland Revenue Act 2017 · As enacted · Part II
107. Private rulings
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
A taxpayer may apply to the Commissioner-General for a private ruling setting out the Commissioner
General’s position regarding the application of this Act to a transaction entered into, or proposed to be entered into, by the taxpayer.
The Commissioner-General shall appoint a committee of senior officers of the Department known as the
Interpretation Committee to review requests for private rulings and to issue private rulings as appropriate on behalf of the Commissioner-General.
An application under this section shall be in writing and -
include full details of the transaction to which the application relates together with all documents relevant to the transaction;
specify precisely the question on which the ruling is required; and
give a full statement setting out the opinion of the applicant as to the application of this Act to the transaction.
Subject to section 108, the Commissioner-General shall, within ninety days of receipt of the application under this section issue a private ruling on the question to the applicant.
If the taxpayer has made a full and true disclosure of all aspects of the transaction relevant to the making of a private ruling and the transaction has proceeded in all material respects as described in the taxpayer’s application for the private ruling, the private ruling shall be binding on the Commissioner-General as against the taxpayer identified but shall not be binding on the Commissioner-General as against any other taxpayer.
A private ruling shall not be binding on a taxpayer.
The Commissioner-General may specify reasonable fees to be charged in relation to an application for a private ruling.