Deadline for ‘Super Gains Tax’ ends today

December, 31, 2015

The deadline to settle the ‘Super Gains Tax’ introduced by the earlier interim government’s budget ends today (31 December, 2015). This tax was payable in three installments before this deadline.

The first installment was payable on or before 31 October 2015, the second on or before 30 November 2015 and the third on or before 31 December 2015, stated the particular circular.

If any company records a profit before tax of over Rs. 02 billion during the financial year for 2013/14, then 25 per cent of this sum should be paid as Super Gains Tax, proposed Finance Minister Ravi Karunanayake when he presented the interim budget proposals last January.