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SRI LANKA: Non-Essential Imports Restricted in Bid to Bolster Rupee

12 Oct 2018

Any retailer looking to secure letters of credit with banks in order to facilitate the import of certain non-essential consumer items (including mobile phones, refrigerators, washing machines, air con...Read More


Sri Lanka: Market Profile

2 Oct 2018

Sri Lanka is a mid-sized country in South Asia in terms of GDP and population. Complex political environment and the impact of natural disasters, made 2017 a challenging year for Sri Lanka. The econom...Read More


SRI LANKA: VAT on Imported Fabrics Cut from 15% to 5%

28 Sept 2018

The VAT on imported fabrics has been cut from 15% to 5% with immediate effect. The move is intended to boost SMEs in the export-oriented readymade garment manufacturing sector....Read More


SRI LANKA: VAT Reclaim Scheme Introduced for Overseas Passport Holders

24 Sept 2018

Overseas passport holders are now entitled to reclaim the 15% VAT on purchases made at retail outlets participating in the Tourist VAT Refund Scheme (TVRS)....Read More


SRI LANKA: Seven-Day Electronic Transfer Mandatory for Shareholder Dividends

13 Aug 2018

Companies listed on the Sri Lankan Stock Exchange are now obliged to electronically-transfer dividends to the bank accounts of their shareholders within seven working days of their initial issuance....Read More


SRI LANKA: One Stop Import/Export Procedures Online Database Goes Live

30 July 2018

Full details of the country’s export and import procedures can now be found on the Sri Lanka Trade Information Portal (www.srilankatradeportal.gov.lk), an online resource managed by the Ministry of I...Read More


SRI LANKA: 15% Levy Imposed on Gold Imports Following Unexplained Surge in Volume

20 April 2018

All gold imported into Sri Lanka is now subject to a 15% levy. This marks the end of a five-year period where the precious metal was accorded duty-free status and reflects government concerns over a r...Read More


SRI LANKA: Company Ownership in Excess of 25% Shares to be Subject to Mandatory Reporting

13 April 2018

Individuals who hold more than 25% stake in a company in Sri Lanka will soon see their personal details as well as details of their beneficial interest in shares reported to the country’s Registrar of...Read More


BRI-backed Rail Link Set to Transform Sri Lanka's Transport Network

14 March 2018

Massive China-funded coastal rail project tipped to boost Sri Lanka's logistics and tourism industries....Read More


Extra US$1 Billion of Chinese Funding Boosts Sri Lankan BRI Project

7 Dec 2017

The massive Colombo Port City development is set to be one of the Belt and Road Initiative's key South Asian hubs....Read More


SRI LANKA: New Limits Set for Foreign Currency-Funded Overseas Investments

22 Nov 2017

New annual limits have been set with regard to the permissible level of foreign currency-funded overseas investments, with the limit varying depending on the status of the would-be investor....Read More


Sri Lanka Hails Dawn of New Chapter in Wake of Huge BRI Investment

21 Nov 2017

Massive Belt and Road-related Chinese investment looks set to transform Sri Lanka's shipping and industrial sectors....Read More


SRI LANKA: Withholding Tax on Dividends Increased from 10% to 14% for Non-Residents

15 Sept 2017

The withholding tax (WHT) rate on dividends paid to non-resident shareholders in Sri Lanka has been increased from 10% to 14%. In addition, the WHT rate on profits repatriated from the country has als...Read More


SRI LANKA: Manufacturing-Focussed Industrial Park in Western Province Gets Official Greenlight

28 Aug 2017

In a bid to attract more FDI into the country, Sri Lanka’s government has unveiled plans to develop an Industrial Park (IP) for the manufacturing sector in the Kalutara district of Western Province. E...Read More


SRI LANKA: 13-Amp Square Pin Plugs Mandatory for All New Electrical Appliances

20 July 2017

All electrical appliances produced in/imported to Sri Lanka must be fitted with 13-Amp square-pin plugs (Type G in line with British Standard (BS) 1363) as of 16 August. This follows the adoption of s...Read More


SRI LANKA: Online System Set to Streamline Company Registration Process

5 June 2017

The country’s new online registration system will slash the time taken to incorporate a private company from three days to just one when it comes online in March 2018....Read More


SRI LANKA: Private Company Registration Fee Cut by 73%

8 May 2017

The fee for the registration of a Private Limited Company has been reduced from LKR 15000 (US$97) to LKR 4000 (US$26)....Read More


SRI LANKA: Overseas Investors Wooed with Visas and Land Lease Rights

18 Jan 2017

Two to five year visas are now on offer to any overseas investor who deposits US$300,000 or more in a Sri Lankan bank....Read More


SRI LANKA: VAT Raised from 11% to 15% as Some Categories are Exempted While Others Become Newly Liable

8 Nov 2016

VAT has been raised from 11% to 15% with immediate effect, although some 82 categories of goods are now exempt from the levy – including mobile phones, construction equipment, computers and accessorie...Read More


SRI LANKA: VAT Rises 4% to 15% in Bid to Meet International Debt Commitments

20 Sept 2016

VAT is to be raised to 15% for nine months following approval by the Sri Lankan parliament expected by the end September....Read More

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