Tax Bill provisions risk denting competitiveness, warns Ceylon Chamber of Commerce

► SAYS CERTAIN PROPOSALS RISK UNDERMINING BUSINESS CONTINUITY, TAXPAYER RIGHTS AND OVERALL COMPETITIVENESS

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The Ceylon Chamber of Commerce (CCC) has flagged key risks in the proposed Inland Revenue (Amendment) Bill of 2026 and cautioned that several provisions could strain financing, compliance and investor confidence at a delicate stage of economic recovery.

Following a review by its Tax Steering Committee, the CCC said while updating the tax framework is necessary, certain proposals risk undermining business continuity, taxpayer rights and overall competitiveness.