Lanka relaxes tax laws
Associated Press
Colombo, April 13:
Sri Lanka has amended tax laws to encourage more expatriates to contribute to the country’s development, newspapers reported today. Expatriates Sri Lankans have been reluctant to return home because anyone working more than 182 days in a year in the island nation were liable for tax on their earnings both in Sri Lanka and their resident country, the Daily Mirror newspaper reported.
According to the amended law, expatriates will have to pay taxes only for their earnings in Sri Lanka irrespective of the number of days, according to National Council for Economic Development (NCED), the report stated.
Thousands of professionals have left Sri Lanka mainly to work in the United States, Europe and Australia seeking better salaries, while some escaped a bloody civil war between the government and Tamil Tiger rebels, which has killed 65,000 people since 1983.