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<p>The web notice dated 13th January 2021 was issued by the Department of Inland Revenue (“<b>DIR</b>”). A summary of <u>income tax</u> proposals made in the National Budget – 2021 as mentioned in
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<p>Sri Lanka has ratified all key International conventions (such as the International Labour Organization Convention 138 on the minimum age for employment) and has sufficient legislation for the eradication of child engagement in labour, ‘hazardous’ or otherwise.</p><p>Due to this reason,
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<article><p>Termination of employment in Sri Lanka is governed by 2 principal statutes namely the Industrial Disputes Act No.43 of 1950, as amended (“IDA”) and the Termination of Employment of Workmen (Special Provisions) Act No.45 of 1971, as amended (“TEWA”). On a collective
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Real Estate Investments Trusts, known as ‘REIT’ is a Unit Trust that will invest principally in income generating real estate. REIT has been established within the existing Sri Lankan legal framework. It appears to have been structured from a local investor perspective and the Sri Lankan environment in which it
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A bill titled the 20th Amendment to the Constitution of Sri Lanka (‘Constitutional Amendments’) was presented to the Parliament on 23rd August 2017 and gazetted on 02nd of September 2020. The Constitutional Amendments retain some of the reforms introduced by the 19th Amendment, including inter alia Article 14A of the
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Aruni Marcelline contributes to the Thompson Reuters guide to Corporate Real Estate Law in Sri Lanka. Read More....
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BOI exporters and Customs House Agents (CHAs) are required to comply with the following guidelines when clearing imported raw materials (with effect from 20th April 2020). The guidelines are meant to ensure a paperless process in the clearing of raw materials. 1. Submission of the electronic Bills of Lading: The
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The Securities and Exchange Commission of Sri Lanka (SEC) has approved amendments to the Stockbroker rules, Central Depository System (CDS) rules and the Listing rules proposed by the CSE to enable the stock market to move to a digitised environment. Investors who previously had to submit physical documents to a
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ශ්රී ලංකාවේ සේවය අවසාන කිරීම 1950 අංක 43 දරන කාර්මික ආරවුල් පනත හා 1971 අංක 45 දරන කම්කරුවන්ගේ රක්ෂාව අවසාන කිරීමේ (විශේෂ විධිවිධාන)
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இலங்கையில் தொழில் முடிவுறுத்தலானது 1950 ஆம் ஆண்டு 43 ஆம் இலக்க கைத்தொழில் பிணக்கு சட்டம் மற்றும் 1971 ஆம் ஆண்டு 45 ஆம் இலக்க தொழிலாளர் தொழில்
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Dilmini Cooray and Inshira Hanifa contribute to the Thompson Reuters guide to Tax on Corporate Transactions in Sri Lanka. Read More
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On the 11th of March 2020, the prevalent global COVID-19 outbreak was declared as a Pandemic by the World Health Organization and many countries moved to impose restrictions on movement of persons, business activities and day to day operations in an attempt to contain the spread of the virus. The