Under the provisions of the Inland Revenue (Amendment) Act, a Taxpayer Identification Number (TIN) certificate will become mandatory for several key services and transactions in Sri Lanka starting April 1, 2026.
The new regulation empowers the Commissioner General of Inland Revenue to issue TIN certificates to any individual or entity assigned a TIN, formalising the tax registration framework for essential financial, property and business activities.
Transactions Requiring a Valid TIN Certificate
According to the amended Act, the following services cannot be completed without presenting a valid TIN certificate to the relevant authority:
1️⃣ Financial Transactions
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Opening any account at a financial institution
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Obtaining a credit card
2️⃣ Property and Development
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Registering land or land ownership
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Obtaining official approval for building plans
3️⃣ Motor Vehicles
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Registration of a motor vehicle
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Renewal of a motor vehicle licence
4️⃣ Business and Corporate Activities
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Registering a business
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Transfer of shares in a company incorporated in Sri Lanka (applicable to both the transferor and transferee)
The gazetted amendment further mandates that designated officials — including bank managers, registrars, and provincial or divisional secretaries — must verify the TIN certificate before rendering these services.
The measure is aimed at strengthening tax compliance, improving transparency in financial and property transactions, and broadening the formal tax base in the country.
