Srilanka, Sept. 27 -- Stresses a fairer regime would allow banks to direct resources towards lending for critical infrastructure and priority sectors
Urges accelerated tax deductibility for impairment provisions to encourage restructuring of distressed loans, and targeted credit guarantee schemes to help revive struggling enterprises
Sri Lanka's banking sector has pressed the government for sweeping reforms to the country's tax regime, warning that the current system is choking competitiveness, deterring investment, and curbing the financial system's ability to drive recovery.
In a comprehensive submission to the Finance Ministry ahead of the 2026 National Budget, the Sri Lanka Banks' Association (SLBA), representing all licensed commerci...