CA Sri Lanka has submitted a comprehensive set of proposals for Sri Lanka’s National Budget 2027, calling for a shift from repeated tax-rate increases towards stronger compliance, digitalisation and more predictable tax administration. Key proposals include an integrated taxpayer data system linking NTIN, UBIN and electronic invoicing, greater use of data and AI to identify tax-compliance risks, and stronger Customs–IRD information sharing. The Institute has...Read More
Ranaweera Associates Managing Partner Athula Ranaweera said that improving tax compliance in Sri Lanka must begin with strengthening the tax administration itself, speaking at the CA Sri Lanka 5th Annual Economic and Tax Symposium, where leading private sector tax professionals raised concerns over the Inland Revenue Department’s administrative practices. Ranaweera noted that many taxpayers genuinely want to comply voluntarily but are frequently frustrated by inconsistent...Read More
Ranaweera Associates Managing Partner Athula Ranaweera called for stronger tax education for both taxpayers and revenue officers, speaking at the 5th Annual Economic and Tax Symposium organised by the Faculty of Taxation of CA Sri Lanka on 2 July 2026. Participating in the panel discussion on “Enhancing Tax System Efficiency to Support Economic Growth,” Ranaweera argued that most compliance failures in Sri Lanka arise from...Read More
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 about how exemptions would be handled. “Income tax policies...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 delegates from India, Pakistan, Bangladesh, the Maldives, and Sri...Read More
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