The Legal 500

Sri Lanka > Tax

Editorial sections

Other

All countries

The ‘well-respected’ Naomal Goonewardena is dual qualified as a solicitor and accountant, and heads the team at Nithya Partners, which focuses on advisory work. Key highlights included acting for Heladhanavi in an ongoing dispute with the Ceylon Electricity Board, and advising on the issue of deductibility in separate matters for ICICI Bank (Colombo) and CEI Plastics. Other clients include Tudawe Brothers, ATG Gloves Group, and Commercial Bank of Ceylon.

DL & F De Saram has experience in exchange control and taxation law. The firm also provides advice on incentives and exemptions for foreign investors, corporate tax, income tax and VAT.

Highlights for F J & G De Saram included advising SAP India on tax issues arising from rendering consultancy services, and advising Lalan Rubber on the imposition of cess. The firm has recently advised a number of clients in relation to double taxation issues. Anjali Fernando is recommended.

Julius & Creasy’s tax team is headed by Anandhiy Gunawardhana. The team recently advised on structuring employee share option plans for foreign clients with local subsidiaries.

The ‘excellent’ team at Neelakandan & Neelakandan continues to provide tax advice to Taisei Corporation (International) of Toyko in relation to the Bandaranaike International Airport development project.

John Wilson Partners advises foreign investors and high-net-worth individuals; areas of expertise include double taxation and the procedure for obtaining refunds in relation to VAT. It has recently advised foreign clients on the 100% tax on the purchase of immovable property by non-citizens.

Sudath Perera Associates acts for several international clients, and advises on income tax, VAT, economy service charge, turnover taxes and nation-building tax. The firm has recently advised clients in relation to double taxation and VAT refunds. Piyummini Ranasinghe has left the firm for an in-house position.

Press releases

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to

Legal Developments worldwide

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Jersey Royal Court considers measure of damages for dilapidations claims

    In the absence of any statutory provision in Jersey addressing how dilapidations claims are to be quantified, the Royal Court's decision in JSSL v Barclays has provided some much needed guidance, particularly in circumstances where there is an acceptance that works to redress dilapidations have not been and will not be carried out.
  • English Supreme Court rules on Mistake and Hastings Bass

    On 9 May 2013 the English Supreme Court handed down a unanimous judgment on the seminal cases of Pitt-v- Holt and Futter -v- Futter , with Lord Walker's valedictory judgment conclusively resolving the English position on the rule in Hastings Bass and rescission on the ground of mistake.
  • Getting the breaks

    Shook, Hardy & Bacon currently authors the Insurance section of The In-House Lawyer magazine. For more information and articles from this author click here .
  • Product liability and dietary supplements

    Shook, Hardy & Bacon currently authors the Insurance section of The In-House Lawyer magazine. For more information and articles from this author click here .
  • The calm before 
the storm: are 
you prepared for 
a dawn raid?

    WilmerHale currently authors the Fraud and Corporate Crime section of The In-House Lawyer magazine. For more information and articles from this author click here .
  • International shipment of waste: transporters beware

    Burges Salmon LLP currently authors the Environment and Energy section of The In-House Lawyer magazine. For more information and articles from this author click here
  • Cyprus Shipping Industry : Business as usual. Why despite recent events Cyprus remains an internatio

    Cyprus is the third most populated island in the Mediterranean Sea. It is strategically located at the crossroads of Europe, Africa and the Middle East. Traditionally Cyprus has always been at the heart of the seafaring trade and therefore always functioned as an important centre for trade and commerce. Today as a member of the European Union it remains an optimal business base. It is one of the most attractive locations for foreign investments worldwide. Foreign companies have been given the opportunity to invest and establish business in Cyprus on equal terms with local investors as no distinction is made between foreign and Cypriot companies.
  • FOREIGN EXCHANGE OPERATIONS

    The excellent support system in combination with the ideal jurisdiction provided in Cyprus set the country in the list of the most desirable countries through which you can offer foreign exchange operations. In addition, the accession of Cyprus within the European Union and, most importantly, the extremely beneficial economic advantages available due to the low costs and the outstanding taxation, create a covetable environment for foreign investors.
  • National public order. Adoption of the Draft

    The Presidium of the Supreme Commercial Court of the Russian Federation (hereinafter - SCC RF) adopted by the Informative Letter No. 156 dated the 26th of February, 2013 (hereinafter - the Informative Letter) on Review of the consideration by arbitrazh courts of the cases on the implementation of the public order clause as the ground for rejection of the recognition and enforcement of the foreign court decisions and arbitral awards.
  • China Customs New Interpretation

    For many products, tariff classification can be technically complex, confusing, and subject to multiple interpretations. Often several different Harmonized System Codes ("HS Code") may seem applicable for one given product with different tariff rates. Tariff classification is indeed a process of application of customs classification rules, including customs rulings and decisions, and misclassification may trigger severe legal consequences. The sad fact is, unfortunately, that many companies rely on non-legal professionals to determine the HS Codes for imports or exports. A recent interpretation issued by the General Administration of Customs of China ("GACC") (Circular No. [2012] 495 Shu-Fa-Fa) (the "Interpretation") reinforces the process of tariff classification as a legal matter, and formulates the test as to what counts for regulatory violation if tariff classification rules are improperly applied by the importer or exporter in a given case. If the legal defense is successful, misclassification may only be treated as a non-violation misclassification, with the possible obligation to pay up additional customs duties, if any, but without administrative or criminal consequences. The Interpretation took effect as from February 1, 2013.

Press Releases worldwide

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to