The National Chamber of Commerce on February 18 in partnership with BDO Partners Sri Lanka, explored the investor-friendly aspects of the recently announced tax amendments. Partner Tax Services BDO Sarah Afker, presented the changes to the major categories of tax. The event took place at the National Chamber of Commerce Auditorium in Colombo 10.
Afker said, “If you are a non-resident, then any income you earn from foreign currency-denominated bond or local currency, is exempt from tax. Under the current act, the exemption is only for the interest you earn, but under this proposal, even the capital gain you have from realizing the bond would also be tax-exempt.”
“Residents, if we are interested in investing in the sovereign bond market denominated in foreign currency, are exempt from tax and this has been enforced from April 1, 2018. If there were tax payments that have happened…
