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By Ashfa Anwer For most organizations, the ideal choice of a business structure is most likely a partnership business or a limited company. The right choice lies in each individual circumstance and it could depend on a number of different factors like legal requirements and tax considerations. Understanding the pros and cons of a business…

By Ashfa Anwer When you decide on starting a business, its legal structure plays an important role as it will affect the level of tax you pay, the extent of your personal liability, and how easy it will be to pass on or sell the business when you retire. The structure of a company makes…

What is the Difference Between EPF and ETF? If you are a young professional just entering the workforce, terms like Employees’ Provident Fund or EPF and Employees’ Trust Fund or ETF may often fly over your head. Oftentimes, youngsters enter their professional lives with only a vague understanding of what these terms are. What they…

With the Covid-19 pandemic, businesses and Sri Lanka’s economic infrastructure was hit hard. The resulting prevalent foreign exchange issues in Sri Lanka have given rise to a new problem; it has left a number of consignments left without clearance over a period of time. In lieu of this problem, The president of Sri Lanka has…

When establishing any type of business in Sri Lanka, it’s of vital importance that you choose a business structure that is best suited for your needs you know the ins and outs of it. There are several different business structures you can choose from, the most popular ones being private limited company, unlimited liability partnership,…

For foreign companies or persons looking to expand their horizons toward the South Asian region, Sri Lanka is indeed one country full of potential and promise of a fruitful business venture. But how does the set-up process work and what are the rules and regulations you have to follow? Below, you will find a simple,…

I have not done any business, no transactions, do I have to file the annual return?

Yes! for Any Company who is having a turnover of more than Sri Lankan Rupees One Million (Rs. 1,000,000/-) per annul or a Paid up Capital of Sri Lankan Rupees Five Hundred Thousand (Rs. 500,000/-).

සමාගමක නාමය යෙදීම සඳහා සමාගම් පනතේ 6 සහ 8 වගන්ති බලපානු ලබයි.

Steps to Incorporate a Private Limited Company in accordance with the Companies Act No 7 of 2007.