Tax
From The Report: Sri Lanka 2017
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This chapter examines Sri Lanka’s tax regime, focusing on business-friendly benefits for 2017, incentives for tourism operators, digitisation of VAT mechanism and other key areas.

It also features a viewpoint from Sujeewa Mudalige, Managing Partner, PwC.

Articles from this Chapter

Overview

Paying dues: The 2017 budget includes changes that affect tax regulations
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The much-awaited budget speech for 2017 delivered on many fronts, particularly revenue measures and tax administrative reforms, with an aim to improve overall business sentiment. The shift that was seen with most new revenue proposals was that they are now targeted at improving the direct tax contribution towards revenue. Unlike in 2016, some of the key revenue proposals have a greater chance of being implemented, such as the corporate tax revisions and the revisions of withholding tax. Budget There…

Viewpoint

Balancing act: Sujeewa Mudalige, Managing Partner, PwC, on the strength and effectiveness of the tax system
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Viewpoint: Sujeewa Mudalige Taxation continues to the principal instrument of mobilising revenue for financing public expenditure. In addition to serving this primary function, the Sri Lanka tax system has been harnessed over the years to serve the economic and social policy objectives of the government, both as a means of promoting capital formation and investment, thereby providing a conducive climate for economic growth, as well as targeting the redistribution of income and wealth. The conventional…