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This case study analyses the effect that the end of the Multi-Fibre Agreement (MFA) has had on innovation in the Sri Lankan textile and clothing sector. The ending of the quota system under the MFA led to an increase in the US and EU markets which has motivated a large number of innovations in the Sri Lankan textile and clothing sector. Some large companies have become a total services provider, while others are trying to establish their own brands. Product innovations with foreign partners, process innovations such as introduction of CAD/CAM, and various marketing and organisational innovations have been implemented. Keywords: innovation, textiles and clothing, garment, Sri Lanka, Multi-Fibre Agreement, MFA, competition , CSR, Corporate Social Responsibility, marketing, brands, fair-trade, outsourcing, FDI, joint-ventures 

This paper is one of five case studies which is a part of a larger project looking at the various effects that trade and investment can have on innovation. This paper studies the effect of the ending of the Multi-Fibre Agreement (MFA) on innovation in the Sri Lankan textile and clothing sector. The ending of the quota system under the MFA led to an increase in the US and EU markets which has motivated a large number of innovations in the Sri Lankan textile and clothing sector. Some large companies have become a total services provider while some are trying to establish their own brands. Product innovations with foreign partners, process innovations such as introduction of CAD/CAM and various marketing and organisational innovations have been implemented.

Sri Lanka has 43 tax agreements in force as reported in its response to the Peer Review questionnaire. None of those agreements, comply with the minimum standard.

French

Sri Lanka can legally issue the following three types of rulings within the scope of the transparency framework: (i) rulings providing for unilateral downward adjustments; (ii) permanent establishment rulings; and (iii) related party conduit rulings. Sri Lanka is planning to put in place a legal framework for issuing APAs in the near future.

First reporting fiscal year: Commencing on or after 1 April 2019

Sri Lanka has 43 tax agreements in force as reported in its response to the Peer Review questionnaire. None of those agreements, comply with the minimum standard.

French

Sri Lanka can legally issue the following three types of rulings within the scope of the transparency framework: (i) rulings providing for unilateral downward adjustments; (ii) permanent establishment rulings; and (iii) related party conduit rulings. Sri Lanka is planning to put in place a legal framework for issuing APAs in the near future.

At age 55 for men and 50 for women.

First reporting fiscal year: Commencing on or after 1 April 2018

Sri Lanka has 43 tax agreements in force as reported in its response to the Peer Review questionnaire. None of those agreements, comply with the minimum standard.

French

Sri Lanka was not yet able to complete the peer review questionnaire. It is not known whether Sri Lanka has implemented the transparency framework during the year in review.

First reporting fiscal year: Commencing on or after 1 April 2018

Sri Lanka has 47 tax agreements in force, as reported in its response to the Peer Review questionnaire.

French

Sri Lanka was not yet able to complete the peer review questionnaire. It is not known whether Sri Lanka has implemented the transparency framework during the year in review..

Sri Lanka was reviewed as part of the 2017/2018 and the 2018/2019 peer reviews. This report is supplementary to those previous reports (OECD, 2019[1]) (OECD, 2018[2]).

Sri Lanka has 47 tax agreements in force, as reported in its response to the Peer Review questionnaire.

French

This peer review covers Sri Lanka’s implementation of the BEPS Action 5 transparency framework for the year 2018. The report has four parts, each relating to a key part of the ToR. Each part is discussed in turn. A summary of recommendations is included at the end of this report.

Sri Lanka was first reviewed during the 2017/2018 peer review. This report is supplementary to Sri Lanka’s 2017/2018 peer review report (OECD, 2018[1]). The first filing obligation for a CbC report in Sri Lanka applies to reporting fiscal years commencing on or after 1 April 2018.

1. Consistent with the agreed methodology this first annual peer review covers: (i) the domestic legal and administrative framework, (ii) certain aspects of the exchange of information framework as well as (iii) certain aspects of the confidentiality and appropriate use of CbC reports. Sri Lanka does not yet have a complete legal and administrative framework in place to implement CbC Reporting and indicates that it will not apply CbC requirements for the 2019/2020 fiscal year.The Fiscal Year is the period of 12 months commencing from 1 April and ending on 31 March of the following year. It is recommended that Sri Lanka finalise the domestic legal and administrative framework to impose and enforce CbC requirements as soon as possible, taking into account its particular domestic legislative process.

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