Finance Minister proposes one-time tax for big companies & financial institutions

Finance Minister Basil Rajapaksa proposed to impose a one-time tax surcharge of 25 percent on persons or companies with taxable income over Rupees 2,000 million for the year of assessment 2020/2021. Rupees 100 billion is expected to be earned through this tax. VAT on banks and financial service providers under supply of financial services by […]