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Capital gains tax (CGT) is to be re-introduced in Sri Lanka. The proposed legislation will amend and repeal the current Inland Revenue Act No 10 of 2006. The legislation is pending Parliamentary approval but is expected to be adopted. Imposition CGT will be charged at the rate of 10% on
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The Sri Lankan Parliament recently enacted the Foreign Exchange Act (Act) which repealed the previous exchange control law that has been in place for decades. Summary of key provisions: Dealers of foreign exchange The Act recognises ‘Authorised Dealers’, ‘Restricted Dealers’ and ‘Dealers for a Specific Purpose’ as being permitted to
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A company incorporated outside Sri Lanka may establish a representative office in Sri Lanka. 斯里兰卡境外注册公司可在斯里兰卡设立代表处 A representative office is an office established in Sri Lanka by a foreign company, engaged in international trading of goods or providing international services to, report on business movements in Sri Lanka to its Head
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This is a first of a series of articles on cyber security we intend publishing. Since the wide-spread use of computers for record keeping and day-to-day office work, security of computer records, their dissemination and storage have become important. Meant for the general reader, these articles are aimed at providing
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Sri Lankan government has moved away from granting tax concessions and concessionary tax rates for foreign investors. Substantial capital allowances will be granted to encourage investment. An outline of the enhanced capital allowances and the applicable investment criteria are set out below. 斯里兰卡政府已取消对外国投资者税收和税率的优惠。将给予大量资本配额鼓励投资。增加资本配额和适用投资准则如下： SECTOR （部门） PREVIOUS TAX RATE（
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D. L. & F. De Saram’s participation in the launch ceremony of the Legal Environmental Report on the Belt and Road countries held in Beijing on the 24th of June 2017, followed by the Signing of the memorandum for collaboration, organised by the All China Lawyers’ Association.
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Corporate Income Tax rates （企业所得税税率） Sector （部门） Previous tax rate（以前税率） New tax rate（新税率） Agriculture （农业） Education （教育） 10% 14% SMEs（中小企业） Export of goods and services（商品出口和服务） 12% 14% Provision of information technology services （提供信息技术服务） 28% 14% Other sectors (including banking and finance, insurance, leasing, trade etc.) 其他部门（
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The Sri Lankan Government is proposing to introduce draft legislation governing a special residency visa scheme for foreign nationals. The legislation is contained in the Special Deposit Account Bill. If the draft legislation is passed by Parliament, foreign nationals who invest a sum not less than US$500,000 in
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1) 拟议名字的批准-公司拟议的名字必须填写名字搜索表格并经企业监管局（ROC）的批准 (Approval of the Proposed Name – The proposed name of the company must be approved by the Registrar of Companies (ROC) by filing a name search form.) 在法律的适用范围内，没有有关部长的批准，一些如“斯里兰卡”“州”“国家”“社会”“联营”“市政”“股份有限的”“总统”和“总统有关”的词汇不能用于公司的拟议名字 (In terms of the applicable law,
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In terms of the recent, Revocation of Irrevocable Deeds of Gift on the Ground of Gross Ingratitude Act No. 5 of 2017, an irrevocable deed of gift may now be revoked on the ground on gross ingratitude by an order of a competent court. Legal action instituted for the revocation
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(Court Decision in MV Thermopylae Sierra Case) The Admiralty High Court of Sri Lanka, delivered a landmark order in the MV Thermopylae Sierra Case. This order sheds clarity on the scope of the in rem jurisdiction under Admiralty Law in Sri Lanka. The Plaintiff in this case, Scarlet Shipping Company
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Published on Thomson Reuters PRACTICAL LAW A Q&A guide to doing business in Sri Lanka. This Q&A gives an overview of key recent developments affecting doing business in Sri Lanka as well as an introduction to the legal system; foreign investment, including restrictions, currency regulations and