Govt. extends deadline for tax return submissions till 7 Dec.

The Government has extended the deadline imposed for filing income tax returns by a week from 30 November, State Finance Minister Shehan Semasinghe said.

“Taxpayers were supposed to submit documentation for personal income tax, corporate tax, partnership tax and other taxes by 30 November, but the deadline triggered a rush of submissions clogging the system,” he said in Parliament on Thursday.

State Finance Minister also said that no penalty will be charged. 

The 2023 Budget presented by President Ranil Wickremesinghe in his capacity as the Finance Minister aims to increase the tax revenue by 69% to Rs. 3.13 trillion next year from Rs. 1.85 trillion this year, whilst bringing down the budget deficit to 7.9% in 2023 from this year’s revised 9.8%.