COLOMBO, May 31 (Xinhua) -- The Sri Lankan government announced on Tuesday that it has decided to amend five taxation acts in order to hike tax rates to bring the government revenue back to 2019 levels. The tax rate hike is expected to involve value added taxes. Inland Revenue Act, No....
Sri Lanka hiked personal income tax rates in 2023. Value added taxes were raised to 15 percent from 8 percent last year. Another 2.5 percent cascading tax was imposed on top of VAT, the effect of which was estimated to be around 4.5 or more through the cascading effect. While value added...
COLOMBO, May 31 (Xinhua) -- The Sri Lankan government announced on Tuesday that it has decided to amend five taxation acts in order to hike tax rates to bring the government revenue back to 2019 levels. The tax rate hike is expected to involve value added taxes. Inland Revenue Act, No....
The Singapore personal income tax structure is one of the friendliest and most competitive in the world. The tax year is from 1 January to 31 December in each calendar year and income is assessed on a preceding-year basis. Personal Income Tax Rates ...
There has been record domestic borrowing from the banking system, backed by printing money amid a loss of external confidence after ‘flexible’ exchange rates in 2020. (Colombo/Mar02/2021) ECONOMYNEXT – Sri Lanka is expecting 250,000 tourists in December 2024 after the new administrat...
f. Effective since 1 January 2024, the withholding tax rates for interest and royalty payments are 10% and 8%, respectively. Malaysia has also entered into limited agreements covering only aircraft and ship transportation with Argentina and the United States. ...
Some countries have a zero de minimis threshold, meaning all imported goods are subject to duties and taxes regardless of their value. Countries with a zero de minimis threshold include Egypt, Nigeria, and Sri Lanka, among others. Country tariff rates ...
In this case, the contract payment must be grossed up by the appropriate FCT rates in order to determine the contractor’s taxable revenue. Gross contracts Alternatively, a contract whereby the foreign party is responsible for and pays the FCT is a ‘gross contract’. ...
The central bank in an explanatory note has said that if it did not do so, interest rates would have gone up to very high levels. However, that is a highly misleading statement. Due to its standing facility, overnight rates cannot go above 9.25 basis points. ...
Tax Services Indonesian Pocket Tax Book 2024 Contents Corporate Income Tax Tax rates; Tax residence; Tax payments; Business profits; Taxation on certain offshore income; Controlled foreign companies; Capital allowances; Disallowed deductions; Debt to Equity Ratio; Losses; Profit distributions; Deemed ...