SCB Library
Blog Articles
Colombo Port City: The Future of Offshore Business – Apply Before It’s Too Late!
11 Mar 2025
Colombo Port City, Sri Lanka's ambitious venture, is rapidly emerging as a premier Special Economic Zone (SEZ) in South Asia.
Navigating Tax Changes Sri Lanka Budget 2025
27 Feb 2025
The Sri Lankan 2025 Budget introduced several tax reforms aimed at increasing government revenue, improving tax compliance, and supporting economic growth.
Why Sri Lanka Should be Your Next Investment and Business Destination
02 Dec 2024
Sri Lanka has become an increasingly attractive destination for investors and entrepreneurs looking to establish and grow their businesses in Asia.
Why APO (Accounting Process Outsourcing) is the Way Forward for Businesses
08 Sep 2024
Companies are continuously seeking ways to streamline their operations and focus on core competencies. One of the most important shifts in this direction is the rise of outsourcing
Why Sri Lanka Should be Your Next Investment and Business Destination
07 Sep 2024
Sri Lanka has become an increasingly attractive destination for investors and entrepreneurs looking to establish and grow their businesses in Asia.
APO (Accounting Process Outsourcing): A Complete Guide
06 Sep 2024
In the past decade, outsourcing accounting and bookkeeping has become a popular choice for businesses of all sizes and across various industries.
How to Register a Business in Sri Lanka - A Comprehensive Guide
04 Sep 2024
This comprehensive guide from our SCB Corporate team is designed for non Sri Lankan residents and foreigners interested in establishing a company in Sri Lanka.
Navigating the Evolving Landscape: Exploring Recent Changes in VAT, Impact on Businesses, and Strategies for Success
27 Dec 2023
In a world where understanding taxes is crucial for both business owners and consumers, the spotlight Automatically falls on Value Added Tax (VAT)
A business registration as an Offshore company to operate within the port city of Colombo Sri Lanka
27 Dec 2023
Sri Lanka has emerged with a special coastal land in the hub of Colombo, specially designed to attract foreign and local entrepreneurs to set up their businesses within the port city.
What’s an offshore company and why do entrepreneurs need it?
27 Dec 2023
In the global landscape of business and finance, offshore companies have become a popular choice for investors seeking strategic advantages and increased financial flexibility.
Why do companies dissatisfy with company secretaries?
02 Aug 2023
In the corporate world, the role of a company secretary holds significant importance, serving as a vital link between a company's management, board of directors, and external stakeholders.
Company incorporation in Sri Lanka
27 June 2023
Sri Lanka is a culturally rich nation. It enjoys a diverse population and natural beauty. The high employment rate among the working class and freedom of doing business...
Outsourcing accounting functions is a solution for many business issues.
08 May 2023
In today's fast-paced business world, outsourcing has become a popular solution for companies looking to streamline their operations and increase efficiency.
Do not let rising operating costs impede the business expansion
19 October 2022
People might think it's crazy investing (especially starting an IT firm) in Sri Lanka amid its economic crisis. Every bad thing will carry some good stuff.
How to Register a Tax Free Company in Sri Lanka
15 October 2021
Board of Investment of Sri Lanka acts as the country’s apex agency of promoting foreign direct
investments, diversifying the sources of foreign exchange earnings, and increasing export
Face-to-face Transactions Vs Online Business
07 August 2021
A fully online business, in a nutshell, is a business entity conducted entirely on the Internet which may generally encompass selling goods and services solely in cyberspace with no inventory.
Kickoff Your Business Startup During this Turbulent Weather
12 July 2021
A very successful entrepreneurial journey begins maybe with a simple business idea. The business idea may be a solution to the problem(s) where it may be an innovative solution or a point of difference compared to existing solutions.
Cash Flows and Working Capital Management for SMEs
29 June 2021
CMA Sri Lanka COVID 19 SME Development Conference - United Nations -
Micro, Small and Medium-Sized Enterprises (MSME) Day,- Sunday 27 June –
9.00 am to 1.30 pm via Zoom
Business survival with COVID-19
04 April 2020
I am encouraged to write this blog post with the mischievous disturbance from my little son Nimrodh because the time that we spend right now at home due to COVID-19 provides a space for us to learn things that will help us not to repeat
Why do strategies fail?
04 April 2020
Organizations spend a massive amount of resources on developing their strategies. An entity must take steps to ensure that their strategies have the best chance to become successful. Sometimes right strategies may also get fails.
Should we pay tax?
02 April 2020
Despite COVID 19 as we work from home, we are indeed pleasure updating you on your tax liability and compliance requirements to avoid your ambiguity on your tax liability. Even though every organization is in the standstill temporary
COVID-19 Outbreak vs Business Continuity
27 March 2020
As COVID-19 outbreaks in many countries, contingency planning has been essential within the business world We suggest in order to overcome this situation; businesses should come up with new strategies
Working Capital & Cash Flow Management
30 JAN 2020
75% successful SMEs did have proper financial planning (Proper record keeping, prepared financial budgets, and strongly adhered). 73% of failed business did not have proper financial
REVISIT OF ECONOMIC SERVICE CHARGE (ESC) REGIME
06 SEP 2019
Economic Service Charge (ESC) was introduced with an intention to recover some tax in lieu of Income Tax from those entities that were exempted from income tax,
Forming an Overseas company in Sri Lanka
19 AUG 2019
Forming an overseas company in Sri Lanka is a process. It requires knowledge and experience on
how to form an overseas company under the Companies...
What causes to fail SMEs in Sri Lanka?
19 AUG 2017
Recently, I carried out a study on causes affecting business failure in SMEs in Sri Lanka. Some salient findings of the study that have been published in an article appeared in Daily mirror on...
Frauds through weak systems
19 AUG 2017
The Case : It was an investigation into a suspected fraud that was committed by an employee of our client. The client assigned our firm (SCB Corporate) to carryout a forensic audit in order...
Good Governance for Sri Lanka
19 AUG 2017
It was the theme or mantra of the presidential election campaign of HE, the President, Maithreepala Sirisena in 2015. It is not a new concept but some countries especially developed countries had already implemented...
Do you know that you don’t need to pay taxes?
8 NOV 2018
Does my wealth determine my tax liability? Let me tell you one thing, no one in Sri Lanka is liable to pay income tax on owning properties such as cars, land, etc.There are...
Biggest ever-single error-payment we found
19 AUG 2017
1. Introduction It is absolute happiness for our internal audit team as they found a payment of Rs. 2.3 million to a supplier of our client over a reversed Good Received Note (GRN). This...
