Legal Framework
From The Report: Sri Lanka 2018
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This chapter examines Sri Lanka’s legal system, focusing on the updated Inland Revenue Act, the establishment of a new public-private partnership agency, the Foreign Exchange Act and other key areas. It also contains a legal framework viewpoint from John Wilson, Managing Proprietor, John Wilson Partners.

Articles from this Chapter

Overview

Reformed revenue: Notable updates to the Inland Revenue Act and Foreign Exchange Act are among reforms instituted by Parliament
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Following on from 2016 – which saw a number of important legislative reforms – 2017 was another particularly significant year in which several changes were legislated or initiated by Parliament. The two major developments in the legal landscape enacted by Parliament were the passage of the Inland Revenue Act and the Foreign Exchange Act. Mangala Samaraweera, the minister of finance, initially proposed the introduction of a new Inland Revenue Act in the 2016 budget speech. Consequently,…

Viewpoint

International know-how: John Wilson, Managing Proprietor, John Wilson Partners, on draft regulations that will open the labour market to foreign employees.
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Viewpoint :John Wilson The Immigrants and Emigrants Act requires non-nationals entering Sri Lanka to obtain a visa unless exempted, although there are provisions for nationals of certain countries to enter without a visa for tourism or business purposes and to receive endorsement upon arrival. Administratively, an electronic travel authorisation (ETA) scheme is in place, which is required by nearly all travellers who do not obtain a visa. Under the current law, for a non-citizen to work in…