Category: Economy
Sri Lanka’s Tiger supremo turns 50 amid war and peace choice
Elusive Tamil Tiger guerrilla supremo Velupillai Prabhakaran, who turns 50 on Friday, is arguably the man who will decide whether Sri Lanka remains at peace or returns to war.Elusive Tamil Tiger guerrilla supremo Velupillai Prabhakaran, who turns 50 on Friday, is arguably the man who will decide whether Sri Lanka remains at peace or returns […]
Budget tax proposals to go before tax cluster
A joint government-private sector tax cluster will re-examine all the changes to taxes proposed in the budget, says the Treasury Secretary.A joint government-private sector tax cluster will re-examine all the changes to taxes proposed in the budget, says the Treasury Secretary. “A special tax cluster will begin work next week under the NCED (National Council […]
Pakistan hopes to wrap up a trade deal with Sri Lanka this week to be operational by early next year
The Pakistani Premier says the FTA with Sri Lanka will be finalised this week and operational by early next year.The Pakistani Premier says the FTA with Sri Lanka will be finalised this week and operational by early next year. “We hope to finalise the FTA very soon.Talks are scheduled in the next two days in […]
The Ceylon Chamber Commerce has told the government that getting higher tax revenues will be a bigger challenge than controlling expenditure
The Ceylon Chamber Commerce has told the government that getting higher tax revenues will be a bigger challenge than controlling expenditure.The Ceylon Chamber Commerce has told the government that getting higher tax revenues will be a bigger challenge than controlling expenditure. Chamber Chairman Deva Rodrigo said the success of the first UPFA budget depends on […]
Next year’s budget success hinges on ambitious revenue targets, but a drop in economic growth, acutely shows the defeatism on the part of this nation.
Sri Lanka’s 2005 budget contained several measures to raise revenue and an ambitious target of cutting the revenue deficit to 1.3 percent of GDP from – 3.7 percent this year, and keeping the overall deficit at 7.6 percent of GDP. Sri Lanka’s 2005 budget contained several measures to raise revenue and an ambitious target of […]
Making babies, the UPFA way
Adorned in a very western two piece suit, Sri Lanka’s Harvard and University of France educated Finance Minister Dr. Sarath Leelananda Bandara Amunugama Thursday presented the United Peoples Freedom Alliances maiden budget speech in Sinhalese. Adorned in a very western two piece suit, Sri Lanka’s Harvard and University of France educated Finance Minister Dr. Sarath […]
Key state enterprises are being dressed up for commercial viability, while government hunts for fund manager to manage Rs. 15 bn in excess cash
Key state enterprises are being dressed up for commercial viability, while government hunts for fund manager to manage Rs. 15 bn in excess cash. Key state enterprises are being dressed up for commercial viability, while government hunts for fund manager to manage Rs. 15 bn in excess cash. Professional fund managers will get a chance […]
Tax break for agro sector to woo private investment
Agriculture is to be exempt from income tax, with earnings from the cultivation and sale of non-processed plants, non-taxable for five years from April 1 next year. Agriculture is to be exempt from income tax, with earnings from the cultivation and sale of non-processed plants, non-taxable for five years from April 1 next year. “This […]
Finance Minister Sarath Amunugama gave a lesson to the United National Party in political-speak, by explaining his failure to keep to budget targets and pushing the budget deficit to 8.5% of GDP
Finance Minister Sarath Amunugama gave a lesson to the United National Party in political-speak, by explaining his failure to keep to budget targets and pushing the budget deficit to 8.5% of GDP. Finance Minister Sarath Amunugama gave a lesson to the United National Party in political-speak, by explaining his failure to keep to budget targets […]
Highlights of Sri Lanka’s 2005 national budget.
Highlights of Sri Lanka’s 2005 national budget. The UPFA government’s budgetary strategy for the next three years. 1. Raise government revenue, within a medium term framework, to 19 percent of GDP and generate a revenue surplus in the budget equivalent to 3% of GDP. 2. Raise public investment to eight percent of GDP. 3. Reduce […]
Three wheelers to be sheltered from future fuel price increases
Three wheelers to be sheltered from future fuel price increases and three-wheeler leasing to be exempt from VAT.Three wheelers to be sheltered from future fuel price increases and three-wheeler leasing to be exempt from VAT. “About 200,000 three-wheeler operators carry one million passengers daily, occupying the least amount of road space and using the lowest […]
Govt plans to impose PAYE taxes on public servants salaries, while giving a Rs 2,500 salary hike
Putting in place a much-needed reform, the government is planning to impose PAYE taxes on public servants salaries, while giving a minimum of Rs.2,500 salary increase. Putting in place a much-needed reform, the government is planning to impose PAYE taxes on public servants salaries, while giving a minimum of Rs. 2,500 salary increase. But the […]