Your Attention Please

The Ceylon Chamber of Commerce say the government must introduce lquote group taxation
dblquote as an incentive for further investment in Sri Lanka. rn
The Chamber says if a committee goes to work on the framework, scope and regulatory provisions relating to the implementation of Group Taxation, a workable model should be ready for implementation by 2005. rn

rnThe call came through in the Chambers proposals for the upcoming national budget. rn

rnThe wish list also calls for formalizing the double tax treaty to encourage trade, investments and technology transfers. rn

rnAt present, the Sri Lankan double tax treaties refer to a competent authority to administer such treaties. rn

rnThe Chamber is calling for a permanent body, preferably the proposed revenue authority to administer and monitor all aspects of double tax treaties.rn

rnThe Chamber is also proposing a number of measures the government could adopt to raise its revenues. rn

rnProposals include brining in orders requiring high value