Tax amnesties have the potential to encourage corruption and money laundering. They could weaken law enforcement in such grey areas, as income tax officers are prohibited to investigate the perpetrators of white-collar crimes who benefit fro...

Sri Lanka’s ‘Caa1’ sovereign rating has been place on review for downgrade by Moody’s citing weak external position and decreasing institutional strength.

The Government has published a Tax Amnesty Bill which would indemnify persons who voluntarily disclose taxable supply, income or assets, against liability from investigation, prosecution and penalties.

The government has infused fresh equity to the tune of Rs.45.7 billion to SriLankan Airlines in two tranches through April 2021, under the capital enhancement and restructure programme announced last year to help the airline stand on its own...