Income Tax Regulation has been published in the Gazette

Income Tax Regulation made under Income Tax Act has been published in the Gazette.

The new Income Tax Regulation covers amendments brought and comprehensive additions to the initial Income Tax Regulation published in the Gazette on 31st December 2019. Also, the new Regulation provide detailed guidelines on application of the Income Tax Act.

MIRA received noteworthy assistance and guidance from various parties in consolidation of the regulation. Draft of the second regulation was opened for public comments twice on MIRA website and the numerous comments received were considered. Also, meetings were held with 27 stakeholders, including government offices and authorities, associations and large businesses to discuss areas incorporated in the regulation.

MIRA has been conducting several awareness programs on Income Tax for the public. Such include, information sessions on Income Tax and thus far, 70 sessions were held with a total of 741 participants. Additionally, information sessions were conducted at 22 different government offices and ministries.

Income Tax Regulation is now available on the MIRA website. 

 

10 Mar 20