Tax experts yesterday urged the government to provide further clarification regarding raising the Withholding Tax (WHT) from 5 percent to 10 percent. As the measure includes a provision for the Inland Revenue Department (IRD) to issue non-deduction directions on a case-by-case basis, the expert argued that clearer communication is essential to ensure fairness and reduce confusion...Read More
In a landmark event to highlight the importance of “Cost Accounting”, the Institute of Certified Management Accountants of Sri Lanka (CMASL) and the Institute of Cost Accountants of India (ICAI) hosted a joint International Cost Conference on 20 January, 2024, titled «Cost and Effect on Industry and Services to Drive Business Performance». The conference brought together...Read More
As the government is leaving no stone unturned to increase tax revenue, experts in the field asserted that while doing away with Value Added Tax (VAT) exemptions is necessary, the authorities couldn’t have picked a worse time to implement the policy. Sri Lanka is already well-known for implementing policies in a rush, which almost all the time...Read More
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