Taxation is a key source of revenue for Government and is also an important issue in doing business. Sri Lanka has one of the lowest tax-GDP ratios among its peers and has consistently struggled with low revenue collection. At the same time, complexities in the tax system have hurt compliance and also placed costs on business. Expanding revenue with limited constraints to entrepreneurship is a key goal of good tax policy.

In its role of being the voice of the private sector, the Ceylon Chamber of Commerce (“CCC”) believes that the highest priority should be accorded to national interests and that its obligation to address member concerns be discharged in a responsible manner. It is within these parameters that the mandate of the Steering Committees of the CCC has been identified.

Sri Lanka is a middle income country seeking rapid economic growth through an ambitious development agenda focused on attracting investment. The envisaged growth is sometimes sought to be achieved through the enactment of statutes that provide for a legal basis to implement some of the development plans of Government. In addition, there are other areas of relevance to the private sector such as in the area of Constitutional making, in respect of which law reform is contemplated. As a responsible entity the Ceylon Chamber of Commerce (“CCC”) needs to keep these legislative developments under review.

In its role of being the voice of the private sector, the CCC believes that the highest priority should be accorded to national interests and that its obligation to address member concerns be discharged in a responsible manner. It is within these parameters that the mandate of the Steering Committees of the CCC has been identified.