2 sourcesUpdated
Deputy Minister rejects claims of changing Port City tax rules
Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe was drawn into a public dispute on LinkedIn over the pa…
Summary
He stated the revised law is unambiguous, with all individuals taxed under the Inland Revenue Act and no arbitrage between Port City and the mainland. Abeysinghe later apologised for the confusion, stating his general understanding is that individuals earning foreign income are taxed at 15 per cent, and that further clarity on how the rule applies to Port City Approved Persons would follow.
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