Inland Revenue Act 2017 · As enacted · Part I
91. Statement of estimated tax payable
Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk
Official translationFrom Department of Government Printing, unchanged
Every person who is an instalment payer for a year of assessment under section 90 shall file with the
Commissioner-General by the date for payment of the first tax instalment an estimate of tax payable for the year.
The estimate under subsection (1) shall, subject to any instructions by the Commissioner-General to the contrary –
be in the specified manner and form and state–
the person’s assessable income for the year of assessment from each employment, business and investment and the source of that income;
the person’s taxable income for the year and the tax payable with respect to that income under paragraph (a) of subsection (1) of section 2; and
any other information that the Commissioner-General may specify; and
have attached to it any other information that the
Commissioner-General may specify.
Subject to subsection (6) of this section and subsection (3) of section 92, the tax referred to in subparagraph (ii) of paragraph (a) of subsection (2) shall be the person’s estimated tax payable for the year of assessment.
In estimating tax payable for a year of assessment under subparagraph (ii) of paragraph (a) of subsection (2), a person may take into account a foreign tax credit to be claimed under section 80. However, in doing so a person may take account of foreign income tax only if the person has paid the tax or the person reasonably estimates that the tax will be paid during the year.
An instalment payer’s estimate under subsection (1)
shall remain in force for the whole of the year of assessment unless the person files a revised estimate with the
Commissioner-General.
A revised estimate filed by a person under subsection (5) shall be the person’s estimated tax payable for the year of assessment, but only for the purposes of calculating instalments payable under section 90 after the date the revised estimate is filed with the Commissioner-General.