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Sri Lanka Issues Notice that New Corporate Income Tax Rates are Effective from April 2016

|Approved Changes|Sri Lanka
Sri Lanka

Sri Lanka's Inland Revenue Department has issued a notice that the country's revised corporate income tax rates are effective from 1 April 2016. From that date, the corporate rates are as follows:

  • 28% for banking and financial services,  insurance services, and trading activities (unchanged from previous year);
  • 40% for liquor, tobacco, lottery, betting and gaming (unchanged from prev…

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