Banks, finance and other companies requested to pay taxes upfront By Bandula Sirimanne IRD makes 'goodwill gesture' plea, says Govt. needs money to pay public sector salaries View(s): View(s):The Inland Revenue Department (IRD) has called on large banks, finance companies and private sector companies to pay their first quarter taxes upfront, ahead of the due date, as the Government is facing a cash-flow problem in paying public sector salaries. The Sunday Times learns the Treasury has requested the IRD to ask these large corporate taxpayers to cough up the money due to the difficulty in finding the funds to pay salaries. About Rs 59 billion had been collected from several large companies with a turnover of more than Rs. A 2.5 percent ‘social security’ tax will be charged from companies above Rs.
Source: Sunday Times May 15, 2022 10:57 UTC