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Sri Lanka’s expanding tax architecture is creating an unexpected operational burden for commercial banks, with financial institutions increasingly required to function as intermediaries between taxpayers and the Inland Revenue Department. The problem extends beyond mandatory Advance Personal Income Tax (APIT) deducted from salaries. The parallel expansion of the 10 percent Advance Income Tax (AIT) on […] The post Tax Compliance Blitz Turns Banks into Revenue Collection Offices appeared first on Lankanews.lk .

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