One of the major considerations when doing business here in Sri Lanka is how to deal with taxes – especially Value Added Tax (VAT). Here’s a guide that explains how to make sure you get it right with your business.
The Pay As You Earn the Sri Lankan government removed (PAYE) tax in November 2019. However, this has been reintroduced as ‘Advance Personal Income Tax
The Sri Lankan government removed the ‘Nation Building Tax’ with effect from December 01, 2019. You can find more details through the Notice to the
The Withholding tax was introduced in Sri Lanka as a tax charge on interest payments in 1986. In recent times, withholding tax has been the
The Sri Lankan government replaced the previously applied Pay As You Earn (PAYE) tax with a revised tax policy known as the Advance Personal Income
We all need to pay taxes. But, when do we start? If this is the first time you’re paying taxes, or if you’re unsure about the process, we’ve compiled a step by step article. There’s no need to worry. We’ll guide you through the process. Taxes come in many forms. Income tax is where you have to submit a portion of your salary to the Government on a yearly basis. Paying your taxes is considered a civic duty, and failure in complying would result in either a fine or even result in serving jail time.
It’s that time of the year again – a brand new financial year, and a brand new government budget to go with it! On the 5th of March 2019, Hon. Mangala Samaraweera (the Minister of Finance of Sri Lanka) unveiled to us the budget set forth for the financial year of 2019, under his theme “Enterprise Sri Lanka: Empowering the People and Nurturing the Poor “.
Much to everyone’s surprise, the Former President of Sri Lanka, Mahinda Rajapaksa was sworn in as the new Prime Minister on 26th of October 2018. Upon his rise to power, amidst the backlash and social complications that have seen to be on the high, the new Prime Minister has given direction to implement a range of initiatives with which to revive the Lankan economy.
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