Sri Lanka launches transfer pricing regime
June 12, 2008
New regulations implement 2006 Income Tax law
The Sri Lankan finance ministry has issued new rules to introduce the transfer pricing regime specified by the income tax law of April 2006. The impact of these regulations is to create – for the first time – a transfer pricing regime in Sri Lanka. This provides for provides for an arm’s length principle in transactions between related parties or associated undertakings. Application of the arm’s length principle generally entails a comparison of the conditions of a controlled transaction with the conditions of a transaction between independent persons.
Sorry. You must be a subscriber to view this article. Alternatively, why not take a free trial? To subscribe and access this article immediately simply click here or call +44(0)207 779 8380.