{"id":8175,"date":"2020-02-04T00:00:00","date_gmt":"2020-02-04T00:00:00","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/asia\/sri-lanka-will-cut-income-taxes-on-gambling\/"},"modified":"2020-02-04T00:00:00","modified_gmt":"2020-02-04T00:00:00","slug":"sri-lanka-will-cut-income-taxes-on-gambling","status":"publish","type":"asia","link":"https:\/\/www.mundovideo.com.co\/en\/asia\/sri-lanka-will-cut-income-taxes-on-gambling\/","title":{"rendered":"Sri Lanka Will cut income taxes on gambling"},"content":{"rendered":"<p align=\"justify\"><font size=\"4\">Sri Lanka&rsquo;s Inland Revenue Department said it will cut income taxes on alcohol, tobacco, gambling, manufacturing and financial industries from April 1, 2020. Income from liquior, tobacco, and gambling, which were previously taxed at 40 percent, will now be charged at 28 percent.<\/p>\n<p><\/font><\/p>\n<p>&nbsp;<iframe loading=\"lazy\" width=\"100%\" height=\"320px\" src=\"http:\/\/s279572699.onlinehome.us\/banners\/iframe_banner_hera_h.html\" border=\"0\" frameborder=\"0\" scrolling=\"no\" allowtransparency=\"false\"><\/iframe><\/p>\n<p align=\"justify\"><font size=\"4\"><br \/>Trading, banking, finance and insurance will be charged at 24 percent, compared to the earlier 28 percent. Manufacturing will be taxed at a new rate of 18 percent, down from the earlier standard rate of 28 percent.<\/font><\/p>\n<p align=\"justify\"><font size=\"4\">Meanwhile, exports, tourism, education, health, construction and agro-processing industries will be taxed at 14 percent.<\/p>\n<p><\/font><\/p>\n<p>&nbsp;<iframe loading=\"lazy\" width=\"100%\" height=\"320px\" src=\"http:\/\/s279572699.onlinehome.us\/banners\/iframe_banner_mpk_h.html\" border=\"0\" frameborder=\"0\" scrolling=\"no\" allowtransparency=\"false\"><\/iframe>&nbsp;<\/p>\n<p align=\"justify\"><font size=\"4\">Withholding tax on interest income will be exempt for income of up to 250,000 rupees a month with effect from January 1, 2020, while all interest income will be exempt from withholding tax from April 2020.<\/font><\/p>\n<p align=\"justify\"><font size=\"4\">Withholding taxes on dividends, charges, natural resource payments, rent, royalties, premiums and retirement payments for residents will be removed, and become a part of the assessable income for taxes from April 1, 2020.<\/font><\/p>\n<p align=\"justify\"><font size=\"4\">Withholding taxes on partnerships have been removed, and partnership tax will be 6 percent for income over 1 million rupees annually.<\/font><\/p>\n<p align=\"justify\"><font size=\"4\">No Copyright infringement intended. Video\/Photo Unknown Direct for credits\/issue or text us +57 3606412 &#8230; | Respect to Photographers &amp; Influencers<\/font><\/p>\n<p align=\"justify\"><font size=\"4\">&nbsp;<\/font><\/p>\n<p align=\"justify\"><font size=\"4\">&nbsp;<\/font><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Withholding tax on interest income will be exempt for income of up to 250,000 rupees a month with effect from January 1, 2020, while all interest income will be exempt from withholding tax from April 2020<\/p>\n","protected":false},"author":1,"featured_media":5427,"menu_order":453,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[4077],"class_list":["post-8175","asia","type-asia","status-publish","format-standard","has-post-thumbnail","tag-sri-lanka-taxes-reduction-alcohol-gambling","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - 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