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...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...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...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...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...Read More