Sri Lanka published Finance Act, No. 18 of 2021 in the Official Gazette on 17 September 2021. The Act provides for the introduction of a tax amnesty regime for voluntary disclosures, the Tax on Voluntary Disclosure (TVD). Under the TVD regime, qualifying taxpayers that voluntarily disclose undisclosed taxable supplies, income, or assets that should have been disclosed for taxable periods ending up to 31 March 2020 will be subject to a 1% tax on disclosed amounts, provided that a declaration …