SriLanka, July 5 -- Sri Lanka must re-strategise its foreign direct investment (FDI) incentive framework to remain competitive under the OECD/G20 global minimum tax regime, KPMG Sri Lanka, Principal - Head of Tax and Regulatory, Suresh R. I. Perera said.

He said the country's long-standing reliance on tax holiday policies has become increasingly ineffective and unproductive. "The OECD/G20's Base Erosion and Profit Shifting (BEPS) Pillar Two framework, the global minimum tax, has fundamentally rewritten the economics of tax competition, and Sri Lanka's investment promotion strategy must be rewritten accordingly," he said. He was addressing the 5th Annual Economic and Tax Symposium, organised by the Institute of Chartered Accountants of Sr...