Sri Lanka Issue Notice on Tax Exemption on Interest Accrued or Derived from Special Deposit Accounts

Sri Lanka's Inland Revenue Department (IRD) has issued a notice to Commercial Banks, Authorized Dealers, and Special Deposit Account (SDA) Holders concerning an income tax exemption on interest accrued or derived from special deposit accounts.

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Income Tax Exemption on Interest Accrued or Derived from Special Deposit Account

As instructed by the Ministry of Finance on September 11, 2020, following income tax exemption has been proposed and granted subject to the formal amendment being m…