Cabinet of Ministers has approved the proposal made by Minister of Finance Ravi Karunanayake to instruct the Legal Draftsman to redraft the Inland Revenue Act in par with international standards and improving clarity and transparency as proposed by the budget 2016.
Inland Revenue Act No 10 of 2016 provides legal provisions to impose income tax in Sri Lanka but the periodical amendments to the Act have complicated the procedure. According to the Minister, the simplification and modernization of the act will help attracting investors; a timely requirement.
The Government official news portal is maintains by the New Media Unit of the Department of Government Information and it was titled "news.lk" and commenced in mid1996 and release to Internet from March 01st, 1997.
News.lk publishes in three languages – Sinhala, Tamil and English.
+94 11 366 3040
