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Sri Lanka Finance Ministry Issues Clarification On Tax Identification Number

The Sri Lankan flag is being displayed against a tax background in Colombo, Sri Lanka, on December 3, 2024. The Ministry of Finance is issuing a clarification regarding Tax Identification Numbers (TINs), emphasizing that possessing a TIN does not automatically imply liability for income tax. According to the President's Media Division (PMD), only individuals aged 18 and above, whose income exceeds the annual tax exemption limit of Rs. 1.2 million, are obligated to pay income tax. Despite this clarification, the PMD is outlining that a TIN is compulsory for specific activities, effective February 1. These activities include opening a current account, seeking building plan approval, registering a motor vehicle, renewing a license, and registering title deeds to land. (Photo by Thilina Kaluthotage/NurPhoto)

Photo Details

Photo ID	#10887364
Date Taken	3 January 2024
Location	N/A
Photographer	Thilina Kaluthotage/NurPhoto
Category	Human Interest
Copyright	© 2025 NurPhoto - Thilina Kaluthotage/NurPhoto

Related Keywords

Sri Lanka flag tax background Colombo Ministry of Finance Tax Identification Numbers TIN income tax liability President's Media Division PMD individuals annual tax exemption limit Rs. 1.2 million compulsory specific activities opening a current account building plan approval registering a motor vehicle renewing a license registering title deeds land December 3 2024 Thilina Kaluthotage NurPhoto tax clarification aged 18 and above effective February 1 tax obligations financial regulations documentation economic policy fiscal responsibility taxation system Sri Lankan citizens government announcements financial accountability compliance legal requirements.

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