Regulatory Alerts2024-01-01
Administrative Charges for Processing Off The Floor Transfers
The Securities and Exchange Commission of Sri Lanka issued this directive to apply Social Security Contribution levy and Value Added Tax to administrative charges for processing Off-The-Floor Transfers. This tax liability takes immediate effect following correspondence with the Inland Revenue Department regarding VAT reactivation and SSCL collection. The document specifies a 2.5% SSCL and 18% VAT applied to existing fee structures for various transfer categories, including account changes and custodian shifts.
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