TAX ALERT! Statement of Estimated Tax Payable (SET Form) For Year of Assessment 2020/2021

DEADLINE before 15^th August 2020

According to the Sections 90 and 91 of the Inland Revenue Act, No.24 of 2017 (IR Act), It’s mandatory for following tax payers;

• Individuals – (whose estimated taxable income expected to exceed Rs.3 Million)
• Entities – (Companies, Partnerships and Trusts etc.) expected to have a taxable income.

To submit the Statement of Estimated Tax Payable (SET Form)

To pay the First Tax Installment

On or before 15 August 2020.