The Cabinet has approved the signing of a convention between Sri Lanka and Austria designed to prevent double taxation and address tax evasion.
The convention, covering taxes on income and capital, was drafted and agreed upon after discussions between the tax authorities of both countries.
Under the agreement, Sri Lanka will impose a tax rate not exceeding 10% on interest and goodwill.
The Cabinet has approved the President's proposal, in his role as Minister of Finance, to sign the convention and submit it in accordance with the Inland Revenue Act No. 24 of 2017.
Former President Mahinda Rajapaksa is due to vacate his official residence at Wijerama Mawatha, Colombo this morning, a Sri Lanka Podujana Peramuna (SLPP) source said.
Sri Lanka’s largest renewable energy project, the ‘Rvidanavi’ Solar Power Park project was launched in Siyambalanduwa today by President Anura Kumara Dissanayake.
The Presidents’ Entitlements (Repeal) Bill was passed by a majority of 150 in parliament today. However the opposition MP’s were absent during the voting.
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