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When the owner of the real estate sells the property within two years from the buying, your income from the sale is subject to a 5% tax. Income is determined as the difference between the purchase and the selling price. [13] If the owner sells property after two years, no income tax is applied.
The legal system in Sri Lanka comprises collections of codified and uncodified forms of law, of many origins subordinate to the Constitution of Sri Lanka which is the highest law of the island. Its legal framework is a mixture of legal systems of Roman-Dutch law , English law , Kandian law , Thesavalamai and Muslim law .
Taxation in Sri Lanka mainly includes excise duties, value added tax, income tax and tariffs. [1] Tax revenue is a primary constituent of the government's fiscal policy . The Government of Sri Lanka imposes taxes mainly of two types in the forms of direct taxes and indirect taxes.
This execution has been popularly executed in Sri Lanka and has been vital in the country's law. Parate execution can be executed only by the licensed commercial banks of Sri Lanka which are governed by the Banking Act no 30 of 1988. [3] The purpose of the procedure is to help the banking sector to recover the loans in the event of default.
The company engaged in vehicle sales, after-sales services, retail, construction and logistics solutions and agriculture sectors. The company was founded in 1939 and was listed on the Colombo Stock Exchange in 1964. DIMO is one of the LMD 100 companies, a list of quoted companies in Sri Lanka by revenue and ranked 39th in the 2020/21 edition. [2]
At present there are 54 judicial districts in Sri Lanka. [2] It has unlimited original jurisdiction of; Civil and commercial disputes; Income and insolvency testamentary cases; Family and marital disputes, including divorce and nullity of marriage Guardianship of persons of unsound mind and their property; Testamentary cases of person deceased
Pages in category "Law of Sri Lanka" The following 34 pages are in this category, out of 34 total. This list may not reflect recent changes. * Law of Sri Lanka; A.
The Law & Society Trust (LST) is a not-for-profit organisation engaged in legal research, advocacy and human rights documentation and it's headquartered at No.102/3, Barns Place, Colombo 00700, Sri Lanka. LST was founded in 1982 by the late Dr Neelan Tiruchelvam under the Trusts Ordinance.