Author: lbostgadmin

Sri Lanka plans to bring in changes to its banking laws before next March to mandate banks to double their agriculture lending portfolio, Treasury Secretary said Wednesday.Sri Lanka plans to bring in changes to its banking laws before next March to mandate banks to double their agriculture lending portfolio, Treasury Secretary said Wednesday. “Credit channeled […]

Sri Lankas main opposition party, the United National Party, took a sudden decision to boycott Tuesday budget, citing its a mere academicals exercise, a senior party spokesman said.“It was a sudden decision to boycott the budget, as there is no debate before the election next week,” UNP parliamentarian Rajitha Senerath said.rn rnSri Lankas Finance Minister […]

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 […]

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. […]

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 […]

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 […]

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 […]

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 […]

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 is offering tax breaks on vehicle permits, higher pay and cash for unpaid leave to encourage its bloated public sector to become more efficient. Sri Lanka is offering tax breaks on vehicle permits, higher pay and cash for unpaid leave to encourage its bloated public sector to become more efficient. The minimum salary […]

The Sri Lankan government announced Tuesday that all International Cricket Council (ICC) events held in this cricket-mad island will be given total tax exemptions.The Sri Lankan government announced Tuesday that all International Cricket Council (ICC) events held in this cricket-mad island will be given total tax exemptions. Finance Minister Sarath Amunugama said the concession would […]