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How Much Do Casinos Owe the Inland Revenue Department?

In 2015, the government imposed a one-off Casino Industry levy of LKR 1 Bn each on the 4 Casinos established in Sri Lanka. As a result, a total of LKR 4 Bn was owed to the Inland Re...

Tariffs on Powdered Milk

Majority of Import taxes pertaining to milk powder were removed with effect from the 12th of August 2021. The HS codes in relation to the removal of taxes are 040210, 040221 and 040229.

Effectiveness of Tax Amnesty in Sri Lanka

On 9 July 2021, the government gazetted a new finance bill aimed to indemnify individuals who voluntarily disclose their hitherto undisclosed income—that is to a provide a tax amnesty.