Inland Revenue (Amendment) Act comes into force from today
Speaker Mahinda Yapa Abeywardena today (19) endorsed the certificate on the Inland Revenue (Amendment) Bill which was passed by a majority of votes after debate in Parliament. Following the debate…
Sri Lanka lost a large chunk of its tax base due to changes made in tax system in 2020
Sri Lanka has lost a large chunk of its tax base due to significant changes in its tax system made in 2020 including the increase in VAT registration threshold on…
Crisis-hit Sri Lanka hikes tax rates to maximise govt revenues
(Reuters): Sri Lanka’s government on Tuesday announced a taxation overhaul to maximise revenue amid the country’s crippling economic crisis, hiking value added taxes and corporate income tax, and slashing the…
Sri Lanka to replace ‘unrealistic’ budget, in talks to extend World Bank aid
(Reuters) – Sri Lanka plans to replace its current “unrealistic” budget and is in talks with the World Bank to extend its support by $300 million to $700 million, the…