## Cabinet Approves Key Tax & AML Law Revisions 📈

The Cabinet of Ministers has cleared the publication and gazetting of three critical legislative amendments aimed at bolstering fiscal integrity and financial transparency. The bills will soon be tabled in Parliament for final approval. • Inland Revenue Act No. 24 of 2017: Amendments incorporate tax revisions initially approved in May 2025. These changes focus on strengthening the national tax structure and improving State revenue mobilisation. • Financial Transparency & AML: The Cabinet approved revised drafts of the Financial Transactions Reporting (Amendment) Bill and the Prevention of Money Laundering (Amendment) Bill. • Strategic Objectives: • Strengthening revenue administration and fiscal stability. • Enhancing Sri Lanka’s Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) frameworks. • Aligning national law with international transparency standards to support the broader economic recovery. • Current Status: Proposals submitted by the Minister of Finance, Planning, and Economic Development have been greenlit for gazetting; parliamentary tabling is the next immediate step.