(UDHAYAM, COLOMBO) – A Japanese business delegation has expressed concerns over Sri Lanka’s various tax reforms implemented time to time and requested the country’s Finance Minister to give them at least six-months’ notice prior to the enforcement of tax amendments as it might have an adverse impact on their exports.
A delegation of representatives from the Japanese Chamber of Commerce and Industry in Sri Lanka, accompanied by the Japanese Ambassador to Sri Lanka, Kenichi Suganuma, called on the Minister of Finance and Media Mangala Samaraweera at the Ministry of Finance on Monday (03).
The Japanese delegation apprised the Minister of issues faced by investors with regard to various tax reforms implemented time to time. They stated that most of their products are being exported under forward contract with buyers and any sudden amendment to the tax regime may affect their exports.
Minister Samaraweera stated that since Sri Lanka intends to implement an investor and export friendly economic policy, the Government would implement tax reforms favourable to exports.
The representatives also briefed Minister Samaraweera on various investment projects undertaken by the Japanese Chamber of Commerce and Industry in the country and exchanged views on ease of doing business in Sri Lanka.
The Japanese Ambassador was accompanied by a high-profile business delegation consisting of the Chairman/President of Training and Service Industry Group of Mitsubishi Corporation Eiji Suga, Vice Chairman of Taisei Corporation Hiroki Horikawa, Vice Chairman of Noritake Lanka Porcelain Yoshinari Shimaya, Vice President of Itochu Corporation Akira Matsui, Vice President of Oriental Consultants Noboru Kitazawa, Vice President of YKK Lanka Ryuhei Nagahata and Secretary General of the Japan External Trade Organization (JETRO) Kazuhiko Obama.
