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 condemns attack on Kabul Intercontinental Hotel
-- [7 hours ago]
Economy stabilized amid many challenges - Sri Lanka PM
-- [7 hours ago]
STF deployed for security of Kataragama, CID to investigate police shooting
-- [8 hours ago]
Government allocates Rs. 65 billion to develop 'nearest school'
-- [9 hours ago]
Kataragama returns to normalcy after officer involved in shooting arrested
President instructs IGP to investigate into Uva CM forcing a Principal to kneel down
Ceylon Chamber organizes business forums with Singapore, Indonesia delegations
Sri Lanka Human Rights Commission issues guidelines for police officers to follow during local election
Uva Chief Minister resigns from the post of Provincial Minister of Education
Sri Lanka to establish two more medical faculties to expand higher education

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.