Today’s News Digest - April 1

Today’s News Digest: Your go-to summary of the key events and headlines that shaped the day. From major developments to breaking news, we bring you everything that happened today, all in one quick and easy read.

Advance Income Tax on Deposits: What You Need to Know for 2025

Effective April 1, 2025, Sri Lanka’s Inland Revenue Department mandates a 10% Advance Income Tax (AIT) deduction by banks and financial institutions on interest, discounts, and Islamic financial income paid to deposit holders. Non-resident depositors may qualify for reduced AIT rates under the Double Tax Avoidance Agreement (DTAA) with appropriate clearance.

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No Provincial Council Election in 2025: Govt

Minister Nalinda Jayatissa announced that provincial council elections will not be held this year, citing the government’s recent conduct of three elections within six months, including the upcoming local government polls.

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TIN will be mandatory for registering new vehicles

The Department of Motor Traffic (DMT) has announced that a Taxpayer Identification Number (TIN) will be mandatory for registering new vehicles and related services, with certain vehicle types exempted.

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Borella Murder: Shooter Sentenced to Death

The Colombo High Court has sentenced underworld figure K.M. Sarath Bandara, known as SF Sarath, to death for the 2014 shooting and killing of an individual in Borella.

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Government rejects Wijeyadasa’s claim on Deshabandu No-Confidence Motion

Justice Minister Harshana Nanayakkara has refuted former minister Wijeyadasa Rajapakshe’s assertion regarding a No-Confidence Motion (NCM) against suspended Inspector General of Police Deshabandu Tennakoon. Minister Nanayakkara said that former Rajapakshe has wrongly interpreted several key facts about the legality of the move to remove Deshabandu from office.

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