Missing a tax deadline in Sri Lanka can cost you thousands in penalties and interest. Here’s every important date for the 2025/2026 assessment year (1 April 2025 to 31 March 2026).

Income Tax Deadlines

Deadline	What’s Due	Who
15 August 2025	Statement of Estimated Tax (SET) + 1st installment payment	All taxpayers with non-employment income
15 November 2025	2nd quarterly installment	Same as above
15 February 2026	3rd quarterly installment	Same as above
15 May 2026	4th quarterly installment	Same as above
30 November 2026	Return of Income for Y/A 2025/2026	ALL individuals and companies

Monthly Deadlines (Recurring)

By 15th of Each Month	What’s Due
APIT payment	Employers remit employee tax deductions from previous month
Withholding Tax (WHT/AIT) payment	WHT deducted from previous month’s payments

VAT Deadlines

Deadline	What’s Due
20th of following month	Monthly VAT return and payment
20th of month after quarter	Quarterly VAT return (if applicable)

SSCL (Social Security Contribution Levy)

Deadline	What’s Due
20th of following month	Monthly SSCL payment
Quarterly	SSCL return

What Happens If You Miss a Deadline?

The penalties are significant:

Late Filing of Return of Income:

• 5% of the tax owing as an immediate penalty
• Plus 1% additional for each month the delay continues
• Example: If you owe Rs. 200,000 and file 6 months late, the penalty is Rs. 10,000 (5%) + Rs. 12,000 (1% × 6 months) = Rs. 22,000 in penalties alone

Late Payment of Tax:

• Interest is charged on unpaid tax at the prevailing rate
• The IRD can impose additional penalties at their discretion

Failure to File SET:

• Penalties for late filing
• Your quarterly installment schedule becomes irregular, attracting further interest

Underestimating Quarterly Installments:

• If your actual tax liability is more than 10% higher than your estimated quarterly payments, interest is charged on the difference

Providing False Information:

• Penalties up to Rs. 200,000 for providing false self-declarations (new from 2025)
• Potential criminal prosecution in severe cases

Key Change for 2026/2027

The SET requirement may be eliminated from Y/A 2026/2027 (starting April 2026) based on proposed amendments. But for the current year 2025/2026, you must still file the SET by 15 August 2025.

Set Up Tax Reminders

Don’t rely on memory. Set calendar reminders for every deadline above. Or better yet, let us handle it:

📞 Let GDP Consultants Manage Your Tax Calendar | ☎️ +94 71 920 4903