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Sri lanka News – Sri Lanka has hiked company registration fees from October 2022 after the worst currency collapse of the island’s soft-pegged central bank amid a rise in other government charges.

Registered companies bring businesses in to the formal economy and make it easier for rulers to tax them. Modern start-ups also incorporate themselves as private limited companies.

The fee to register a public limited company would be 23,000 rupees, a private limited company 4,600 rupees and an unlimited company 17,500 rupees.

Under an earlier gazette, there was a 2,000 rupee fee to approve a name of a company, 6,000 rupees to register an annual return and other fees, which were not change.

Under an earlier gazette the fee to register a company limited by guarantee was 30,000 rupees.

The fee for an offshore company was 150,000 rupees.

Sri Lanka has to raise taxes to support a large public service bloated by giving jobs to unemployed graduates, according to a policy pushed by the Janatha Vimukthi Peramuna, a large cabinet, state minister coterie and also a military remaining after a 30-year civil war which ended in 2009. (Colombo/Oct31/2022)

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