Staying abreast of the latest developments in commercial and corporate law and its practical implications has always been a priority for the Firm. The Partners and Associates regularly comment on landmark judgements, and publish in leading legal publications in Sri Lanka as well as in international peer reviewed journals on matters pertaining to developments in Sri Lanka’s commercial law, government policies and the impact of international legislation on local commerce.

Financial Transactions Reporting Act

Mr. Aruna Samarajewa

This Article examines the myriad of duties and obligations imposed by the Government of Sri Lanka on Finance Businesses and Designated Non-Finance Businesses through the enactment of the Financial Transactions Reporting Act No. 6 of 2006 in order to facilitate the prevention, detection, investigation and prosecution of offences of money laundering and the financing of terrorism in Sri Lanka.

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Sri Lanka Gets Tough on Money Laundering

Mr. Aruna Samarajewa

Anti-money laundering measures are considered to be an extremely important aspect of the global war against narcotics, human trafficking, terrorism and other transnational crime. This Article provides a high-level overview of the application of the Prevention of Money Laundering Act in Sri Lanka as a means of prohibiting money laundering and providing the necessary measures to effectively combat the same.

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Business Income, Investment Income and Investment Gains under the Inland Revenue Act of 2017

Mr. Naomal Goonewardena

The questions: "what is business income?", "what is investment income?" and "what is an investment gain (capital gain)?" are of great significance in many areas of tax law and have formed the root of numerous income tax assessment considerations. It is not surprising that they have generated a substantial amount of discourse. This Article attempts to discuss these questions, in so far as they are relevant to determine the tax liability of persons resident in Sri Lanka, under and in terms of the Inland Revenue Act of 2017.

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Towards a Desirable Legal Framework for Attracting FDI in Sri Lanka

Mr.Naomal Goonewardena and Ms. Ranali Fernando

This Article examines the various protections and guarantees which are accorded to foreign investors in terms of Bilateral Investment Treaties. It further analyzes the administrative actions and legislative enactments in Sri Lanka's recent experience which could be tantamount to unlawful expropriation and/or a violation of the Fair and Equitable Treatment Standard which is of fundamental significance to creating a conducive environment for foreign direct investments in Sri Lanka.

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