Dr. Janaka Thennakoon

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Dr. Janaka Thennakoon

Practicing Chartered Accountant in Sri Lanka & the United Kingdom. Janaka Thennakoon FCA(ICASL), ACA(ICAEW)

06/07/2026

Well done this time, opening eportal giving enough time to tax payers. this is really using the system rather than database.

Inland Revenue Department - Sri Lanka

ASJD & Associates

02/07/2026

what's going on with harbour ?

Sri Lanka’s Ambassador to France, Remi Lambert, is a graduate in history and geography, making him well aware of Napoleon Bonaparte’s famous observation regarding the strategic importance of Trincomalee Harbour. Napoleon is widely credited with stating that whoever controls Trincomalee controls the Indian Ocean. His assessment stemmed from the harbour’s critical role as a major Royal Navy base during the Napoleonic Wars.

28/06/2026

🚫💸 Important Tax Update for Sri Lankan Businesses (Effective 08.05.2023)

If you pay Rs. 500,000 or more to any person in cash or through any method other than:

✔ Account payee cheque
✔ Account payee bank draft
✔ Credit card
✔ Debit card
✔ Electronic payment through a bank account
✔ Cash deposited directly into the recipient’s bank account

…and the payment is made in a single day, for a single transaction, or through multiple transactions related to the same event, then:

🔻 You CANNOT claim that payment as a deductible expense when calculating assessable income.
🔻 You CANNOT include that payment in the cost of an asset for tax purposes.

💡 In short: Large payments must go through traceable banking channels — or you lose the tax benefit.

ASJD & Associates

12/06/2026

is the leader in solar energy generation now.

How much is contribution out of this 90 GW ?

we everyone know is not in favor of solar energy due to grid instability. but willing to spend more on other mediums.

what energy we promote ?

09/06/2026

බදු ගෙවීම අමාරු අයට සහනයක් ලැබී ඇති.

05/06/2026

🚀 Shopify is building something massive.

what will be the impact for ecommerce on this ?

A fully‑fledged Money Movement Platform that operates across licensed entities in the US, UK, and EU — and it’s about to change how global commerce moves.

💳 From payouts to treasury, compliance to cross‑border flows, Shopify is laying the foundation for a unified financial infrastructure that supports millions of merchants worldwide.

🌍 Why this matters:

Faster, more reliable global payments

Stronger regulatory compliance across regions

Better protection for merchants and customers

A single financial engine powering commerce at scale

This is more than a feature — it’s the evolution of Shopify into a global financial technology powerhouse.

The future of money movement in commerce is being built right now. 🔥

26/05/2026

Top 10 countries account for nearly half of global food exports.

Nearby is 8th. unbelievably 25th is with 14 billion per year.

Do you know how much annual agriculture exports?

Sri Lanka Export Development Board

24/05/2026

customer will make money for you.

20/05/2026

AI is accelerating rapidly, but energy systems are struggling to keep pace. This is the prediction.

13/05/2026

Is starting a business under 18 legal in Sri Lanka?

A person under 18 cannot legally start or own a business independently in Sri Lanka, but they can be involved through a parent/guardian using specific legal structures.

Sri Lankan law treats anyone under 18 as a minor, meaning they do not have full legal capacity to enter contracts. Running a business requires signing contracts (bank accounts, suppliers, ROC forms, leases, etc.), so a minor cannot legally do this alone.

If the minor wants to start a business (e.g., online store, tutoring, digital services), a parent/guardian can:

a. Register a sole proprietorship in their own name or incorporate a Pvt Ltd with themselves as director/shareholder

b. Hold shares on trust for the minor

c. Allow the minor to operate the business creatively while the adult handles legal obligations

This is the standard workaround used in Sri Lanka. Specially young generation 16+ can start a business and develop the entrepreneurship this way.

Address

Regus MILTON KEYNES, Midsummer Court, 314 Midsummer Boulevard Central Milton Keynes
Kelaniya
MK92UB

Website

https://mmnacc.co.uk/, https://whatsapp.com/channel/0029Vb7In4kICVfikL7v6B2F

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