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Budget 2025: Tax Relief on Interest Income – Exempting WHT Up to Rs.1.8Mn
The government has announced new provisions that will impact senior citizens and individuals with lower assessable incomes. Financial institutions will not deduct withholding tax on interest paid on deposits made by senior citizens, provided their assessable income from all sources does not exceed Rs.1,800,000/- for any year of assessment. Senior citizens must submit a declaration […]
Budget 2025: Capital Gains Tax Rate Increased to 15-pct for Individuals & Partnerships
The Capital Gain Tax (CGT) rate applicable for individuals and partnerships will be increased to 15%. The CGT rate applicable for all other entities will be raised to 30% in par with the corporate capital gains tax rate.
Final draft of the Budget 2025 Presented for Presidential Review
The final draft of the Budget 2025 was presented for the review of President Anura Kumara Disanayake today (16) at the Presidential Secretariat. Secretary to the Ministry of Finance, Mahinda Siriwardana, was also attend at this occasion. The President, who also serves as the Minister of Finance, Planning, and Economic Development, is set to deliver […]
BASL’s Contradictory Approach Exposed in AG Controversy, Says Lasantha’s Daughter
Ahimsa Wickrematunge, daughter of slain journalist Lasantha Wickrematunge, has accused the Bar Association of Sri Lanka (BASL) of a contradictory approach in defending Attorney General Parinda Ranasinghe, despite his alleged role in obstructing justice in politically sensitive cases. In a letter to BASL President Anura Meddegoda, she criticized the association’s inconsistency—challenging prosecutorial decisions when convenient […]
SL Students’ Growing Interest in Healthcare & STEM Fields Across Top Study Destinations
ApplyBoard, a leading international student mobility technology platform, has released its latest report. This in-depth analysis of international student search trends across Canada, the US, and the UK offers valuable insights into how Sri Lankan students are strategically aligning their study choices with high-growth global sectors, particularly healthcare, engineering, and STEM fields. Key Insights on […]
Unveiling Key Insights from IDC’s Microsoft Commissioned Study
As artificial intelligence (AI) evolves from being a technological buzzword to a business imperative, a recent study commissioned by Microsoft to the International Data Corporation (IDC), titled The Business Opportunity of AI, reveals a crucial shift: businesses are no longer asking if they should integrate AI but rather how to do so strategically to gain […]
Oracle Considers Colombo Port City for South Asian AI and Cloud Hub
President Anura Kumara Disanayake met with the Executive Vice Chairman of Oracle Corporation Mike Sicilia during the World Governments Summit held in the United Arab Emirates yesterday (11). The discussion focused on Sri Lanka’s digital transformation, the adoption of fintech services, and cloud infrastructure to enhance economic and governance efficiency. Oracle expressed its willingness to […]
Agreement between the UAE and Sri Lanka to Strengthen Economic and Investment Relations
Coinciding with the President’s three-day official visit to the United Arab Emirates (UAE) to attend the World Governments Summit 2025, Sri Lanka and the UAE reached an agreement on Reciprocal Promotion and Protection of Investments to strengthen economic and investment relations between the two countries. The agreement was signed by Mohamed Bin Hadi Al Hussaini, […]
Priorities in Focus: Will Budget 2025 Address Sri Lanka’s Agricultural Challenges?
By Dr Manoj Thibbotuwawa and Dr Lakmini Fernando Public expenditure on agriculture as a share of total government spending has decreased from 6.4% to 2% between 2014 and 2023. The irrigation subsector receives most of the agricultural spending (41%), with subsidies accounting for a high 26%. Change to funding priorities necessary to address critical concerns. […]