Daily FT : 11 October 2017 Digital signature, trade information portal and several key functions to be effective from next year, Single Window blueprint ready for July 2018 On track to achieve Govt. revenue target of Rs. 1 trillion Customs DG keen on enhancing efficiency with technology, people-less offices In a major boost to streamline trade, Sri…
Tax publication on new Inland Revenue Act – EY The Inland Revenue Bill published by Gazette on 19 June 2017 along with amendments made at the Committee stage was passed by Parliament on 7 September 2017 and will become an Act of Parliament once it receives the certification of the Hon. Speaker. The new Act provide…
The Parliament passed the Nation Building Tax (Amendment) Bill, providing amendments to certain provisions of the Nation Building Tax Act, No. 9 of 2009 (“NBT Act”). This new Amendment Act which is yet to receive the certification of the Speaker has been analysed by us based on the Nation Building…
All foreign exchange transactions were governed by the Exchange Control Act, No. 24 of 1953 and regulations and directives issued under such Act. On 25 July 2017, the Parliament passed the Foreign Exchange Act. This new Act which is yet to receive the certification of the Speaker has been analysed by us based on the Foreign…
Foreign Exchange Bill passed in Parliament 2017-07-25 The amended Foreign Exchange Bill was passed in Parliament with a majority of 78 votes.
KPMG – Slide deck on followings; Imposition of Income Tax Income from business Concessions Tax avoidance provisions Amendments to transfer pricing provisions EY – Slide deck on followings; Losses Qualifying payment Withholding taxes Investment income and capital gains taxation Tax exemptions Tax rates Assessment and Appeal Procedure Authorized representative PWC – Slide deck on followings;…
NEW INLAND REVENUE ACT – UNDER BILL STAGE Imposition of Income Tax for any year of assessment commencing on or after April 1, 2017. New Inland Revenue Act (Bill) – English New Inland Revenue Act (Bill) – Sinhala Issued on 19.06.2017