Taxation of Sri Lanka:

ICASL launches two books

We presently live in a world that centralizes on finance and taxation; therefore it is of great use for us to be educated and equipped with the knowledge of Finance and Taxation which are pivotal subjects in the society we live. The Institute of Chartered Accountants of Sri Lanka (ICASL) with the Faculty of Taxation of ICASL has launched two books - ICASL Guide to Income Tax Law and ICASL hand book on VAT Law. Both are revised editions for the year 2009. The first of these publications, ICASL Guide to Income Tax Law is the seventh revised edition launched by the Institute.

This book contains and covers a vast area of intellect including paramount topics such as Imposition of Income Tax, Capital allowances, Rates of Income Tax and many other related topics that gives a thorough understanding on the subject to the reader. The second publication of the Institute ICASL hand book on VAT Law is the fourth revised edition on this topic. This book includes in detail topics covering 'Value Added Tax' which includes its historical background, meaning of open market value, value of supplies and tax invoices.

ICASL President Nishan Fernando said, "I expect all the professionals and the public to welcome and laud this effort of the Institute; since there is an insatiable thirst for knowledge on Taxation amongst the general public."