Lankapage Logo CP 18 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* New Inland Revenue Act to take effect from 1st April 2018
Thu, Sep 14, 2017, 01:15 pm SL Time, ColomboPage News Desk, Sri Lanka.

Sept 14, Colombo: Sri Lanka's new Inland Revenue Act that was passed in parliament last week will take effect from the 1st of April next year.

Minister of Finance and Mass Media Mangala Samaraweera said all the provisions of the new Inland Revenue Act will be implemented from the 1st of April 2018.

Upon the advice of the Finance Minister the Treasury has decided to enforce the newly passed act from the new tax year commencing April 2018.

The Minister earlier said the main objective of the new Inland Revenue Act is to simplify the tax system in order to create an investor friendly environment that will attract more foreign direct investments.

The Act will reduce the indirect taxes levied from the people from 80% to 60% and increase the direct taxes from 20% to 40% within three years.

 

ColomboPage - Recent 10 Stories ::
Sri Lanka's Prime Minister says
-- [35 minutes ago]
Leader of the House calls for a party leaders meeting over breaching parliamentary privileges of MP
-- [3 hours ago]
Sri Lanka's Brandix signs Joint Venture agreement with Best Pacific of Hong Kong
-- [4 hours ago]
Sri Lanka PM to visit India to attend the 5th Global Conference on Cyberspace
-- [4 hours ago]
Sri Lanka Army contributes to implementation of many health projects in the North
-- [4 hours ago]
Sri Lanka Economic and Investment Conclave to bring over 200 investors from seven countries
Sri Lanka medical students returns to academic activities after protesting for nearly a year over SAITM
Sri Lanka Navy finds 150 kg stock of abandoned Kerala cannabis in northern seas
Sri Lanka Prime Minister arrives at Bond Commission
No shortage of fuel, no need to panic - Petroleum Ministry

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.