BusinessThe Ceylon Chamber of Commerce (CCC) has urged the Government to have consultations with the private sector prior to finalizing the proposed new Inland Revenue Act. It said the chamber made submissions last week to the Government containing recommendations and observations on the proposed new Inland Revenue Bill. “The chamber was alerted by its members that the Government is in the process of formulating a new Inland Revenue Bill, to be implemented with effect from April 1. As with all chamber submissions, the viewpoint was of the entire private sector, but bearing in mind national needs for enhancing revenue,” the release added. The chamber said it fully supports efforts to modernize the tax system - both in terms of tax policy, tax law, and tax administration.

Source: Sunday Times March 13, 2017 10:25 UTC