Insights

The Revocation of Irrevocable Deeds of Gift on the ground of Gross Ingratitude Act, no. 5 of 2017 took effect on the 4th of April, 2017.

The Revocation of Irrevocable Deeds of Gift on the ground of Gross Ingratitude Act, no. 5 of 2017 took effect on the 4th of April, 2017. The new Act provides that an irrevocable deed of gift may be revoked on the ground of gross ingratitude, only on an Order made by a competent Court, in […]

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On 19.06.2017., a draft new Inland Revenue Act was published in the Government Gazette.

On 19.06.2017., a draft new Inland Revenue Act was published in the Government Gazette. The new Act brings about significant changes in taxation in Sri Lanka including the introduction of capital gains tax and has extensive anti- avoidance provisions and transfer pricing provisions. It is expected that the Act will be presented to Parliament in […]

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