These submissions contains the second set of recommendations and observations submitted by the Ceylon Chamber of Commerce to the Government on technical concerns related to the implementation of the proposed new Statute of Inland Revenue.
The Chamber was alerted by members that the Government is in the process of formulating a new Inland Revenue Bill, to be implemented with effect from 1 April 2017. The Taxation Steering Committee of the Chamber which has member representation across many sectors, and is all professionals with expertise in this area, met several times, deliberated it in detail, and compiled a set of comprehensive observations and recommendations on the draft bill on 8th of March 2017. As with all Chamber submissions, the viewpoint was of the entire private sector, but bearing in mind national needs for enhancing revenue.
These first set of submissions made on the 8th of March can be accessed at: https://www.chamber.lk/ceylon-chamber-of-commerce-submissions-on-proposed-inland-revenue-bill/