Double Taxes Germany / Sri Lanka - Opening Restaurant in SL

Lora123 Member

Member since 27 March 2023

Lora123Member25 July 2023 11:25:19

I will open a restaurant in Sri Lanka next year and will also open my own bank account for it in SL.

There will be a local manager, but I will continue to live in Germany.

There is a double taxation treaty between Germany and Sri Lanka but I am wondering if I still have to pay German taxes on the income and if it is possible to then transfer the money in rupees to my German account in euros?

Does anyone know?

Please help

See also

Living in Sri Lanka: the expat guide - Guide
Restaurants in Sri Lanka - Business
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FrancescoFa New member

Member since 12 August 2020

FrancescoFaNew member25 July 2023 12:08:34

@Lora123

Hi Lora, get a good international Colombo accountant. There are different ways to receive an income without paying unnecessary taxes. A professional advice will save you money and time.

Best

Francesco

FrancescoFa New member

Member since 12 August 2020

FrancescoFaNew member25 July 2023 12:09:55

@FrancescoFa and get a good international German accountant to check whatever the Colombo accountant suggests!

Mohamed Rafeek21 New member

Member since 08 May 2023

Mohamed Rafeek21New member25 July 2023 12:47:21

@Lora123 Try to consult an accountent acoroding to my knowledge their are limit investment ammount that their are no tax. if you need more about in this regard let me know i will checked and let you know.