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 of the country. The tax system helps the government to generate the public revenue for the economic ...
COLOMBO, Jan. 20 (Xinhua) -- Sri Lanka registered a 21 percent increase in tax revenue collection in 2019 compared to 2018, local media quoting Inland Revenue Department (IRD) Commissioner General Nadun Guruge said here on Monday. According to Guruge, the IRD provisionally collected 4.3 billion...
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....
2014 - 2018 | 季 | 百万斯里兰卡卢比 | Central Bank of Sri Lanka 政府收入和补助:收入:税收在09-01-2018达432,909.900百万斯里兰卡卢比,相较于06-01-2018的420,022.400百万斯里兰卡卢比有所增长。政府收入和补助:收入:税收数据按季更新,03-01-2014至09-01-2018期间平均值为382,411.000百万斯里...
The country would greatly benefit in imposing of taxes to fulfill its journey to success! 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...
Low revenue collection as well as the other reasons discussed have led to the abolishing of wealth taxes in most countries Tax revenue from individual net wealth taxes in 2016 ranged from only 0.2% of GDP in Spain to 1.0% of GDP in Switzerland. Sri Lanka’s experience with wealth taxat...
ECONOMYNEXT- Sri Lanka’s proposed tax hikes may lead to lower interest rates in the future as the expected increase in state revenue could reduce the dependency on treasury bills and bonds, dealers said. The island nation’s financial markets consider T-bill yields as the proxy for market ...
Commercial Banking – Sri Lanka The Foreign Account Tax Compliance Act (FATCA) is a new piece of legislation by the United States Department of Treasury and the US Internal Revenue Service (IRS) to counter tax evasion in the US. HSBC is committed to becoming fully FATCA-compliant in all coun...
The crisis-hit island nation is struggling to finance its fuel and gas imports after its foreign currency reserves almost fell to zero after the central bank printed trillions of rupees to bridge the state revenue fall. The money printing has already resulted in around 60% inflation year...
One of these regulations is the Foreign Account Tax Compliance Act (FATCA), effective as of 1 July 2014. This is a new piece of legislation by the United States Department of Treasury (Treasury) and the US Internal Revenue Service (IRS) to counter tax evasion in the US. ...