In this article I am going to try my best to guide you through the entire process relating the Income Tax Act Sri Lanka and Income Tax Sri Lanka at most precise level I can. Yes, it is very common to encounter individuals who are uncertain and confused about theIncome Tax Act Sri Lanka...
The objective of the study is to analyze what is impact of income tax default and arrears collection? And to identify factors influence in defaulting income tax in Sri-Lanka. Major part of the government revenue is collected through the well-defined system of tax administration for the survival...
ECONOMYNEXT – Sri Lanka’s quarterly income tax filed for the 2020 last final quarter had exceeded the 2019 number, despite lower rates showing that economic activity was starting to pick-up and some tax payers had also opened new files, Treasury Secretary S R Attygalle said. Corpora...
ECONOMYNEXT – Sri Lanka’s doctors, accountants, bankers, architects, quantity surveyors, lawyers of the supreme court have to be registered with the Department of Inland Revenue by June 01, according to a gazette issued under the country’s income tax law. Persons who have regist...
If Sri Lanka aspires to become a higher middle-income nation, its economic development model will have to change. Economic growth will require changes towards diversification, productivity increases and reduction to its exposure to the agricultural sector, which currently employs a third of its workin...
One key proposal by President Ranil Wickremesinghe, who is also running for re-election, is to change personal income tax, currently levied at between 6%-36%, to provide relief to professionals. If he wins, the proposal is likely to be outlined in Sri Lanka's next interim ...
The Sri Lanka Inland Revenue (IRD) does collecting and monitoring of tax. Withholding Tax or retention tax is a type of income Tax. It is payable to the government by the recipient of the income not the payer. There are separate Agents who carry out the collection of the tax money and ...
Sri Lanka extends the free visa-on-arrival facility to 48 countries including India and China. The free visa-on-arrival scheme will be available till 30th April 2020.
The agency believes that Sri Lanka Insurance Corporation Limited (CCC+/AA(lka)/Stable) and potentially National Insurance Trust Fund Board (A+(lka)/Stable) may need to pay the one-off tax as they have larger pre-tax profit bases among Fitch-rated Sri Lankan insurers. Taxable income of...
Referred to as the teardrop of India, Sri Lanka sits just off the southeast coast in the Indian Ocean. Scars of a bitter civil war are fading, and an island nation rich with resources and ripe for adventure is shining through. More on Sri Lanka Behind the Crisis in Sri Lanka What to...