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September 17, 2026

CA Sri Lanka Proposes Tax Reforms for Budget 2027

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...
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July 6, 2026

Strengthening tax administration is the starting point for better compliance

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...
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July 5, 2026

Tax knowledge must come before enforcement, says Ranaweera

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...
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January 29, 2025

Tax experts urge government to clarify WHT hike

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...
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January 31, 2024

Cost & Effect on Industry and Services to Drive Business Performance.

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...
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January 30, 2024

Timing of VAT hike raises concerns among tax experts

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...
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