As stipulated in section 107 of the Inland Revenue Act, No. 24 of 2017 (Act), taxpayers may apply to the Commissioner General of Inland Revenue (CGIR) for a private ruling regarding the application of the Act.
Thereunder the Commissioner General is statutorily empowered to appoint a Committee known as the “Interpretation Committee” to review such application and to issue private ruling as appropriate on behalf of him.
On the basis of assumptions about future events or other matters as considered appropriate, issue private rulings setting out the CGIR’s position regarding the application of the Act to a transaction entered into, or proposed to be entered into, by the taxpayer and act on private rulings in accordance with the provisions of sections 107,108,109,110 and 111 of the Act.
The Committee comprises of a Chairman, and Ten members appointed by the CGIR.
Department of Inland Revenue, Sri Lanka,
Chittampalam A. Gardiner Mawatha, Colombo 02.
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