Delivered Submodules & Capabilities
In depth breakdown of the 4 native components forming the Tax Compliance & Statutory Filing workspace:
VAT return
Aggregates taxable turnover, exempt supplies, zero rated exports, and input tax from purchases into official IRD VAT Return schedules. Automatically computes net tax payable or refund credit.
- ✓Automated monthly and quarterly VAT schedule compilation
- ✓Input VAT vs Output VAT netting with suspense reconciliation
- ✓Taxable turnover categorization (Standard, Exempt, zero rated)
- ✓Direct export into IRD RAMIS online upload formats
VAT refunds
Manages input VAT credits exceeding output liabilities, tracking statutory refund claims submitted to the Inland Revenue Department, audit documentation packages, and carry forward ledgers.
- ✓Excess input tax credit carry forward tracking
- ✓Formal IRD refund claim documentation assembly
- ✓Audit support package generation with verified supplier invoice copies
- ✓Refund disbursement reconciliation against bank accounts
WHT certificates
Generates official tax deduction certificates for suppliers whose payments were subject to Withholding Tax (WHT/AIT), detailing gross amounts, tax rates, deducted sums, and payment dates.
- ✓One click generation of statutory IRD WHT/AIT certificates
- ✓Automated certificate email delivery to affected vendors
- ✓Monthly WHT deduction schedules for IRD payment remittance
- ✓Cross reference audit tracking between certificates and bills
Tax rates
Central statutory tax rule registry containing effective dated tax rates for VAT, SSCL, WHT, and stamp duty. Enables statutory rate changes to take effect automatically without code updates.
- ✓effective dated tax rule registry (data driven tax engine)
- ✓pre configured 18% VAT and 2.5% SSCL calculation rules
- ✓Custom tax exemption code mapping for specific commodities
- ✓Audit trail of tax rate modifications and effective dates
Core Capabilities & Accounting Logic
effective dated Tax Rule Architecture
Sri Lankan tax policy evolves rapidly. SyncBooks stores tax rates as effective dated database rules, so statutory changes take effect on their legal date without disrupting historical records.
- Historical invoices preserve the exact tax rates valid at their creation date
- Zero code rewrites required when the IRD revises statutory percentages
- Supports dual-taxation rules like compounding or cascading levies
RAMIS National e invoicing Ready
Architected from day one to comply with the Inland Revenue Department's phased electronic invoicing (RAMIS) mandate.
- Generates structured JSON/XML data payloads matching IRD technical specifications
- Enforces all 8 mandatory fields before invoice finalization
- Automates digital signature and verification QR code embedding
Sri Lanka Statutory & Accounting Standards
Covers tax invoice standards, input deduction rules, and filing deadlines.
Turnover levy on importers, manufacturers, and service providers.
Mandatory withholding at source on designated commercial payments.
Standard Reports Generated
| Report Name | Frequency | Description |
|---|---|---|
| VAT Return Summary (IRD Format) | Monthly / Quarterly | Official return figures categorized per IRD filing boxes. |
| SSCL Turnover Assessment | Quarterly | Turnover breakdown for Social Security Contribution Levy liability. |
| Withholding Tax Audit Register | Monthly | Itemized record of all deductions at source with vendor TINs. |
Frequently Asked Questions
How does SyncBooks handle the upcoming IRD RAMIS e invoicing mandate?↓
SyncBooks is built with an integrated RAMIS e invoicing pipeline. Invoices validate all required IRD fields upon creation and can transmit data payloads directly to the tax authority API as phases take effect.