TIN certificate mandatory for key transactions from Nov 1
The Inland Revenue Department (IRD) has announced that a valid Taxpayer Identification Number (TIN) Certificate will be mandatory for several specified transactions with effect from November 1, 2026. The requirement is being introduced under Section 102(3) of the Inland Revenue Act, No. 24 of 2017, as amended by the Inland Revenue (Amendment) Act, No. 11 […]
Effective November 1, 2026, the Inland Revenue Department (IRD) will make it mandatory to present a valid Taxpayer Identification Number (TIN) Certificate for various key transactions in Sri Lanka. This new requirement stems from Section 102(3) of the Inland Revenue Act, No. 24 of 2017, as updated by the Inland Revenue (Amendment) Act, No. 11 of 2026.
To meet this new regulation, any individual who was aged 18 or older as of December 31, 2023, or any individual turning 18 on or after January 1, 2024, must possess a TIN. Starting November 1, 2026, those who wish to open a bank account, obtain approval for a building plan, register or renew a motor vehicle license, register land or title to land, establish a business, or acquire a credit card will need to produce a legitimate TIN Certificate.
Furthermore, when transferring shares of a company incorporated in Sri Lanka, both the person transferring the shares and the transferee will be required to submit a valid TIN Certificate. The Inland Revenue Department has instructed its officials to verify the presence of a valid TIN Certificate prior to processing or finalizing the transaction.
For those without a TIN, the IRD has provided an avenue for obtaining one through its e-Services platform. Additionally, a printout of the TIN verification result, displaying the individual's NIC number and TIN, can serve as an acceptable substitute for the official TIN Certificate.
Written by urgent.news from The Island Sri Lanka's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
