D. L. & F. De Saram supports clients on tax-related advisory and compliance issues, incentives and exemptions as well as efficient transaction structuring. Other notable areas of focus include international and double taxation and tax disputes. Savantha De Saram oversees the practice alongside Prabash De Saram and Aloka Nandasena. Other key names to note within the team include Hansi Abayaratne and associate Inshira Hanifa.
Tax in Sri Lanka
D. L. & F. De Saram
Practice head(s):
Savantha De Saram; Prabash De Saram; Aloka Nandasena
Other key lawyers:
Hansi Abayaratne; Inshira Hanifa
Key clients
Tesco International Sourcing Limited
CBRE South Asia S (Private) Limited
Work highlights
- Advised Tesco International Sourcing Limited on their day to day tax compliance requirements applicable to the local entity and payments made to employees and service providers and changes to the income tax law in Sri Lanka.
- Advised CBRE South Asia S (Private) Limited on their day-to-day income tax compliance requirements applicable to the local entity and payments made to employees in Sri Lanka.
Nithya Partners
Nithya Partners handles the breadth of tax law related issues; it is renowned for providing advice on both direct and indirect taxes in Sri Lanka. From a tax advisory perspective, the practice assists clients in structuring their deals by focusing on tax implications and planning. In relation to litigious matters, the firm represents clients before the Tax Appeals Commission, Court of Appeal and Supreme Court. Naomal Goonewardena
is recognised as a key practioner within this space.
Practice head(s):
Naomal Goonewardena
Testimonials
‘Intricate technical knowledge linked with ability to understand business situation.’
‘They think out of the box and are quite innovative in approaching issues and suggesting solutions.’
‘Naomal Goonewardena is a good listener to our views and will explain his views in layman’s language.’
Key clients
Seylan Bank PLC
Kegalle Plantations PLC
Lalan Rubber (Private) Limited
Ceylon Shell Flour (Private) Limited
HongKong and Shanghai Banking Corporation Limited
Standard Chartered Bank
McLarens Lubricants (Private) Limited
Peoples Bank
People’s Leasing & Finance PLC
Nestle Lanka PLC
Work highlights
- Represented Seylan Bank PLC in an appeal before the Supreme Court with regard to an assessment which had been issued on the bank disallowing a certain proportion of its interest expense.
- Representing the Kegalle Plantations PLC in an appeal which is pending before the Supreme Court, with regard to an assessment which had been issued on the client on the basis that the sale of rubber trees arising from the replantation program does not constitute an ‘unprocessed agricultural product’ in order to qualify for a Value Added Tax (VAT) exemption under the Value Added Tax Act, No. 14 of 2002, as amended.
- Represented McLarens Lubricants (Private) Limited in a series of appeals before the Court of Appeal with regard to assessments which had been issued on the client disallowing a concessionary tax rate which had been claimed on the basis that the supply of lubricants to ships plying in international waters was an ‘export’.
Sudath Perera Associates
Sudath Perera Associates supports clients in all phases of tax services which include filing of income tax returns, applying for VAT, closure of income tax files, as well as business incorporation and closure processes. The team, led by Sudath Perera, also advises on the tax aspects of sophisticated financial strategies, products and monetisation strategies. Consultant Bandunath Jayaratne focuses on individual and corporate taxation.
Practice head(s):
Sudath Perera
Other key lawyers:
Bandunath Jayaratne; Nihara Perera
Testimonials
‘The legal team worked very well and were very efficient.’
‘Dealing with Sudath Perera Associates is very easy.’
‘The team consist of very knowledgeable people with extensive experience in their respective fields.’
‘Sudath Perera is a very versatile individual and very practical in his advise to clients.’
‘Friendly team and reliable service.’
Key clients
Sanofi Lanka Ltd
Reed Smith LLP
Lemuria (Private) Limited
Shangdong rainbow Agrosciences Co. Ltd
MVM International (Private) Limited
Fonterra Brands Lanka (Pvt) Ltd
Samsung India Electronics (Private) Limited
Nippon Paint Lanka (Private) Limited
Qatar Airways
Australia education victoria pty. Ltd
Coats Thread Exports (Pvt) Ltd
Work highlights
- Instructed by Shandong Rainbow Agrosciences Co. Ltd on routine work pertaining to the filing of returns for taxes.
Tiruchelvam Associates
Tiruchelvam Associates is recommened for acting on an array of tax-related issues, specifically regarding permanent establishments, transfer pricing and the impact of tax reform proposals. The practice dovetails effectively with the firm’s real estate and corporate departments. Ramani Muttettuwegama is they key name to consider.
Practice head(s):
Ramani Muttettuwegama
Key clients
Yum! Restaurants
Room to Read
Orrick
Work highlights
- Advised one of the India’s leading food & beverages groups on transfer pricing rules.
- Advised Room to Read, a global literacy promotion group, on NGO taxes in Sri Lanka.
- Advised several investors on Permanent Establishment rules.