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LankaLAW offers Free AI Legal Advisor ChatBot for Sri Lankan lawyers and legal professionals. Start LankaLAW Free: www.lankalaw.net Ask your Question Simply type your question into chat interface. You can ask any legal questions in relation to any specialised area of law in Sri Lanka. AI powered Answers LankaLAW respond to your queries and provides…
Acts of Parliament (2007-2024)
LankaLAW provide legal resources required by lawyers and legal professionals for their day to day reference. Given below is the Acts passed by the Parliament of Sri Lanka since 2007.
Chat2Find releases 3 Specialised ChatBots for Sri Lanka Market:
Jan 31, 2024, London Chat2find AI company specialised in conversation AI has released 3 key Artificially Intelligent (AI BOTS) services for Sri Lanka market specialised in taxation, law and business. Chat2Find AI provides cutting edge solutions to users who seek unrestricted and unbiased information related to any specialised subject. LankaTAX – AI Tax Advisor LankaTax is an…
What are the traffic offences?
The traffic offences mentioned in the provided context are as follows: These offences involve various penalties, including fines, confiscation, or forfeiture of vehicles.
What are the charges and penalties for bribing a police officer?
The charges and penalties for bribing a police officer can vary depending on the jurisdiction. However, based on the context provided, under the Bribery Act mentioned in the Law Reports, offering a bribe to a police officer can be considered a serious offense. For instance, Section 19 of the Bribery Act penalizes a public servant…
How to Stop Parate execution action by the banks?
To stop a parate execution by banks, one can take the following steps based on the applicable laws: The relevant laws that may apply in such cases include the Recovery of Loans by Banks (Special Provisions) Act No. 4 of 1990, the Mortgage Act No. 6 of 1949, and the Companies Act No. 17 of…
What is a Crime?
A crime is an act or omission that constitutes an offense that may be prosecuted by the state and is punishable by law. Crimes are generally considered to be offenses against the state or the community, rather than just the individual victim. The specific nature and definitions of crimes can vary by jurisdiction but typically…
How can foreigners avoid paying tax in Sri lanka?
Foreigners can avoid paying tax on certain types of income in Sri Lanka by meeting specific conditions outlined in the Inland Revenue Act. Here are some ways based on the provided context: It is important for foreigners to consult with a tax professional or refer to the Inland Revenue Act for detailed advice tailored to…
Tax on Interest Revenue
Interest revenue is subject to taxation under various conditions as outlined in the Inland Revenue Act, No. 10 of 2006. Here are some key points regarding the tax on interest revenue: These points provide an overview of how interest revenue is treated for tax purposes according to the Inland Revenue Act of Sri Lanka. Specific…
Income tax on Rent
Income tax on rent is applicable under the Inland Revenue Act. Here are some key points regarding the taxation of rental income: It is important to consult the Inland Revenue Act or a tax professional for detailed information on how to report rental income and claim any applicable deductions or reliefs.
Tax Exemption for Solar at home. What are the terms and conditions?
The terms and conditions for tax exemption on solar power systems at home, based on the provided context, are as follows: Please ensure to consult the latest tax guidelines or a tax professional for the most current and detailed information, as tax laws and regulations can change frequently.
What’s income tax rate on dividends?
The income tax rate on dividends varies depending on several factors as outlined in the Inland Revenue Act, No. 10 of 2006. Here are the details based on the provided context: Please note that these rates are subject to the specific conditions mentioned in the Act and may vary based on the type of dividend,…
How to reduce tax in Sri Lanka?
To reduce tax in Sri Lanka, individuals and entities can utilize various deductions, credits, and allowances that are legally available within the tax system. Here are some ways to potentially reduce tax liability: It is advisable to consult with a tax professional or refer to the Inland Revenue Department for specific guidance tailored to your…
Penalties For Evading And Making False Tax Returns?
Penalties for evading and making false tax returns are serious and can include both financial penalties and imprisonment. According to the information provided: It is important to comply with tax laws and regulations to avoid these penalties. If there is any uncertainty or need for clarification, it is advisable to consult with a tax professional…
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