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Sri Lanka revives automatic fuel price revision formula
The government has proposed a return to the automatic fuel price formula after squandering billions on a failed attempt to ‘unplug’ Sri Lanka from the global economy.The government has proposed a return to the automatic fuel price formula after squandering billions on a failed attempt to ‘unplug’ Sri Lanka from the global economy. “Recurrent expenditure […]
Sri Lanka raise sin taxes, unveils deficit budget amid opposition boycott
Sri Lanka Tuesday announced higher taxes on gambling, smoking and liquor but slashed other levies in a budget speech boycotted by the opposition which dubbed it a ploy to bribe voters before a key election. Sri Lanka Tuesday announced higher taxes on gambling, smoking and liquor but slashed other levies in a budget speech boycotted […]
‘s 2006 budget presentation
Sri Lanka’s annual budget presentation got off to an inauspicious start with the main opposition party boycotting the proceeding, while government benches were half empty. Sri Lanka’s annual budget presentation got off to an inauspicious start with the main opposition party boycotting the proceeding, while government benches were half empty. Finance Minister Sarath Amunugama began […]
Tax changes in 2006 budget
VAT on Financial Services Sri Lanka to hike value added taxes and excise duties to fund its welfare budget, finance minister Sarath Amunugama said Tuesday. VAT on Financial Services Sri Lanka to hike value added taxes and excise duties to fund its welfare budget, finance minister Sarath Amunugama said Tuesday. • VAT rate on financial […]
Taxes hiked on Financial Services, alcohol,
VAT on Financial Services Sri Lanka to hike value added taxes and excise duties to fund its welfare budget, finance minister Sarath Amunugama said Tuesday. VAT on Financial Services Sri Lanka to hike value added taxes and excise duties to fund its welfare budget, finance minister Sarath Amunugama said Tuesday. • VAT rate on financial […]
Punters cash out of Colombo bourse pre-budget
Punters at Sri Lanka’s tiny stockmarket, cashed out on budget day with poor postal voter turnout in the North and East also adding to investors woes, brokers said.Punters at Sri Lanka’s tiny stockmarket, cashed out on budget day with poor postal voter turnout in the North and East also adding to investors woes, brokers said. […]
Budget – losing its significance?
While the ‘pre Presidential poll’ budget is being sidelines as election propaganda, the country’s overall financial planning process is also losing its significance. While the ‘pre Presidential poll’ budget is being sidelines as election propaganda, the country’s overall financial planning process is also losing its significance. Successive governments, despite going through the pomp and pageantry […]
Renewable Bonds
The government plans to roll out a “Renewable Energy Support Bond” for Rs.2 billion in 2006 to raise funds supporting rural electrification through renewable energy, Finance Minister Sarath Amunugama said Tuesday.The government plans to roll out a “Renewable Energy Support Bond” for Rs. 2 billion in 2006 to raise funds supporting rural electrification through renewable […]
Sri Lanka picks Citigroup to raise dollar loan
Sri Lanka has picked Citigroup Inc., of US to lead arrange a US$ 100 million syndication loan for the government, Finance Minister Sarath Amunugama said Monday. Sri Lanka has picked Citigroup Inc., of US to lead arrange a US$ 100 million syndication loan for the government, Finance Minister Sarath Amunugama said Monday. Funds from the […]
Getting More Interesting
If last week’s Extraordinary General Meeting vote of the Commercial Bank went ahead as planned the Chairman Mahendra Amarasuriya might have won considering the Appeal Court had limited the voting power of a group led by Harry Jayawardene to 10 percent from their 42 percent holding.If last week’s Extraordinary General Meeting vote of the Commercial […]