Category: Budget
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 […]
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 […]
2025 Budget Must Meet EFF Program Parameters for Executive Board Approval: IMF
The International Monetary Fund (IMF) has stressed the importance of the 2025 budget aligning with the parameters of the Extended Fund Facility (EFF) program, as the Executive Board prepares for its upcoming review. Ms. Julie Kozack, Director of the Communications Department at the IMF, highlighted this during a recent press briefing. On November 23rd, 2024, […]
CA Sri Lanka submits budget proposals to support national revival and growth
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), the country’s premier national accounting body, submitted a set of comprehensive proposals for consideration in the upcoming government budget for the year 2025. These proposals aim to bolster Sri Lanka’s economic revival and growth trajectory while promoting governance, transparency, and accountability to restore public […]
Vote on Account first; 2025 Budget early next year: NPP Economic Council
The new President plans to introduce a vote on account to cover expenditures until a fully-fledged budget is presented next year, according to Professor Anil Jayantha, Chairperson of the Economic Policy Committee of National People’s Power. “We are proceeding with a vote on account this year to facilitate the IMF’s third review,” Professor Jayantha stated. […]
Central Bank presents annual report to Finance Minister; 2018 growth 3.2-pct
Apr 25, 2019 (LBO) – The sixty-ninth Annual Report of the Monetary Board of the Central Bank of Sri Lanka was presented to Mangala Samaraweera, the Minister of Finance, by Dr. Indrajit Coomaraswamy, the Governor of the Central Bank. According to the report, the real GDP growth was recorded at 3.2 percent in 2018, compared […]
Treasury has paid last year dues of Rs.84 bn for various projects
Apr 25, 2019 (LBO) – The Treasury has paid off Rs.84,461 million which were due by December 31, 2018, for various programmes and projects implemented under different Government ministries and institutions. Statement from the Finance Ministry Earlier, Treasury had been informed that Rs.99,415 million was due at December 31, 2018, for completing various projects undertaken […]
Mangala PB Yapa appointed new Chairman of Board of Investments
Apr 11, 2019 (LBO) – Mangala PB Yapa has been appointed as the new Chairman of the Board of Investment of Sri Lanka, President’s Media Division said in a statement. According to the statement, he has received his appointment letter from President Maithripala Sirisena at the Presidential Secretariat this morning. He assumed duties as the 22nd […]
Central Bank launches roadmap for sustainable finance in Sri Lanka
Apr 11, 2019 (LBO) – Central Bank of Sri Lanka launched a Roadmap for Sustainable Finance in Sri Lanka on 10 April 2019 at the Sustainable Banking Network Global Meeting of the International Finance Corporation (IFC) in Washington.This Roadmap provides a broad direction to financial regulators and financial institutions to effectively manage environmental, social and governance (ESG) […]