Monthly Archives: March 2019

Embarkation Levy – Gazette No. 2116/62

With effective from 01 April 2019, Government has increased Embarkation Levy by USD 10 and new levy as follows; Person leaving Sri Lanka by aircraft – USD 60.00 Person leaving Sri Lanka by ship – USD 60.00 Download Embarkation Levy Gazette

Budget 2019 – Analysis

Budget 2019 Budget speech – 2019 – English | Sinhala | Tamil Analysis by Tax Professionals: EY | KPMG | PwC | Deloitte

Budget 2019 – Proposals on Betting and Gaming Levy

Betting and Gaming Levy (Amendments to the Betting and Gaming Levy Act, No.40 of 1988 Revision of Annual Levy Annual levy for carrying on the business of gaming other than playing rudjino will be revised to Rs. 400 million Annual

Budget 2019 – Proposals on Ports and Airports Development levy

Ports and Airports Development levy With the view of promoting tourism sector and to reduce the upfront cost of local manufacturing industry, PAL on the items classified under HS Codes 0712.20.00, 0712.90.10 and 7801.10.00 will be reduced to 2.5%. The

Budget 2019 – Proposals on Excise Duty

Excise Duty under Excise Ordinance Revision of Excise Duty Rates The Excise Duty based on the Alcohol volume will be revised as follows: Type Rate (Rs. Per litre of alcohol) Special Arrack No change Other Arrack 3,550/- Country made foreign

Budget 2019 – Proposals on Economic Service Charge (ESC)

ESC to be imposed on all imports In terms of section 2 of the ESC Law, ESC is charged at a rate of 0.5%, inter alia, on the import of specified goods into Sri Lanka, mainly representing goods subject to

Budget 2019 – Proposals on Nation Building Tax (NBT)

Nation Building Tax (NBT) [Amendments to the Nation Building Tax Act, No.9 of 2009] The exemption on the importation of rough unprocessed gem stones for re-export after cutting and polishing will be granted for the lapidary service providers registered under

Budget 2019 – Proposals on Value Added Tax (VAT)

Value Added Tax (VAT) [Amendments to the Value Added Tax Act, No.14 of 2002] The piece based VAT rate applicable on domestic sale of certain garments by the export oriented BOI companies will be revised from Rs.75/- to Rs.100/-. The

Budget 2019 – Proposals on Income Tax

Income Tax (Amendments to the Inland Revenue Act, No.24 of 2017) Exemptions The Earnings by any non-resident person on any sovereign bond denominated in local or foreign currency will be exempted. Interest income earned by any resident person on sovereign

Budget Speech 2019

Budget speech – 2019 English | Sinhala | Tamil