TIN certificate mandatory for key transactions from Nov 1

The Inland Revenue Department (IRD) in Sri Lanka has announced that starting from November 1, 2026, a valid Taxpayer Identification Number (TIN) Certificate will be mandatory for several key transactions. This new requirement is set to come into effect under Section 102(3) of the Inland Revenue Act, No. 24 of 2017, as amended by the Inland Revenue (Amendment) Act, No. 11 of 2026.

The IRD specifies that all resident individuals who were aged 18 or above as of December 31, 2023, as well as those who turn 18 on or after January 1, 2024, will be required to have a TIN. From November 1, individuals will need to provide a TIN Certificate when opening a bank or financial institution account, seeking approval for a building plan, registering or renewing a motor vehicle license, registering land or title to land, registering a business, obtaining a credit card, and transferring shares of a company incorporated in Sri Lanka.

Both the transferor and transferee will need to submit the TIN Certificate in such cases. The IRD has instructed officials to ensure that a valid TIN Certificate is submitted before processing or completing these transactions. For those without a TIN, the Department advises obtaining one through the IRD's e-Services platform, with a printout of the TIN verification result as an acceptable alternative to the official certificate.

Brief written by urgent.news from The Island Sri Lanka's own syndicated text. Machine-written — may contain errors; check the original before relying on it.