Adopt by MOF Inland Revenue Department compliance strategies for corporate and personal income taxes.
Introduced at R0. At R2, in progress. A FAD TA mission visited Colombo in January to provide guidance on implementation of new Inland Revenue Act. The new Act contains increased powers for the Inland Revenue Department (e.g., interest and penalties on late filings) which should improve compliance in general. The compliance strategies for income taxes will be prepared as part of the implementation plan.