tax

Tax exemptions come as a shot in the arm for businesses saddled with various taxes such as Import Duty, Import Cess, Port and Airport Development Levy, Nation Building Tax (NBT) and Value Added Tax (VAT) which are key revenue sources...

Import taxes are an important part of an economy. They provide tax revenue, raw materials and products that directly affect the lives of people. However, a recent study has found that Sri Lanka’s import tax exemption schemes are too opaque,...

Sri Lanka’s import tax exemption schemes are not transparent, subject to undue official discretion and prone to abuse, a study by the Verité Research think-tank has found. Called ‘Wading Through Murky Waters’, the think-tank said its findings were a case...

Sri Lanka’s import tax exemption schemes are too opaque, resulting in them being open to abuse and corruption, a case study by a prominent think tank has found, with decisions frequently subject to officials’ discretion as regulations are unavailable to...

Sri Lanka’s import tax exemption schemes are prone to abuse as they lack predictability, efficiency and openness, a study by a Colombo-based think tank has revealed. The import taxes are a critical source of government revenue. Depending on the product,...