In Sri Lanka taxes are levied by various regulatory authorities by virtue of the powers vested in them. Here, we have set out an outline of the key taxes of the country. The list is not exhaustive and aims to be of general guidance only.
In Sri Lanka taxes are levied by various regulatory authorities by virtue of the powers vested in them. Here, we have set out an outline of the key taxes of the country. The list is not exhaustive and aims to be of general guidance only.
This chapter explores the Sri Lankan tax framework, giving a breakdown of the various regulatory authorities, revenue collection systems, taxpayer services and other elements. It also contains a viewpoint from Sujeewa Rajapakse, Managing Partner, BDO Partners.
Sri Lanka’s investment environment is set to become more balanced, transparent and predictable, with the elections of 2015 largely heralded as a win for inclusive governance, providing a fresh five-year mandate for an administration committed to economic revolution. As the country looks to broaden its investor base, it is hoped that policy changes and plans brought in by the new government will attract the added investment needed to help the country reach its growth goals.
The UAE federal government has exclusive jurisdiction to legislate in relation to UAE taxes. However, no federal tax laws have yet been established. Instead, most of the emirates enacted their own general income tax decrees in the late 1960s (tax decrees).
As a business centre for the region, the UAE continues to be highly relevant and attractive for investors for a number of reasons, including infrastructure, logistics and access to skilled labour. According to the PwC and World Bank “Paying Taxes 2016” study, the UAE is ranked joint first in the world in terms of the ease of paying taxes. In a...
This chapter contains an overview of the tax framework in which local and foreign investors operate including an outline of the business and tax incentives offered by the free zones and a rundown of the Wages Protection System. This chapter contains a viewpoint from Dean Kern, Middle East Tax and Legal Services Leader, PwC.
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