Category: Economy and Markets
‘s BOI companies not exempted from the super gain taxation: Government
Feb 11, 2015 (LBO) – Sri Lanka’s projects approved under the board of investment law will have to pay the one-off super gain tax, a government minister said.“We have to charge them also. They never paid taxes.†said, Dr. Harsha de Silva, deputy minister of policy planning and economic affairs. Silva speaking at a local […]
’s economic relations with India to play a crucial role in making Island an economic hub: Chamber CEO
Feb 09, 2015 (LBO) – Sri Lanka’s economic relations with India will play a crucial role in making Sri Lanka an international logistic hub, Chief Executive of the Ceylon Chamber of Commerce said in a statement. Sri Lanka needs to appreciate the unprecedented opportunity that is emerging in India and within South Asia, Mangala P. […]
’s senior appointments to be decided by Constitutional Council: Deputy Policy Planning
Feb 09, 2015 (LBO) – Sri Lanka’s new government would take steps to appoint a Constitutional Council including senior respected people and ministers from government and opposition to decide senior appointments, Deputy Policy Planning and Economic Affairs Minister Dr. Harsha de Silva said. He made this comment at LBR LBO CEO Forum, answering a question […]
Sri Lanka revises mansion tax rules: Report
Feb 09, 2015 (LBO) – Sri Lanka’s proposed Mansion Tax was amended imposing on houses larger than 10,000 square feet, which is twice as large as originally propose in an interim budget 2015, a media report said quoting Finance Minister Ravi Karunanayake. Accordingly the report, the Mansion Tax would be levied on houses where the […]
‘s interim budget 2015 passed by parliament
Feb 08, 2015 (LBO) – Sri Lanka’s parliament has passed the interim budget 2015 presented by new administration.It was passed with 164 votes in the 225 member parliament, while an independent legislator Ajith Kumara had voted against the budget, a report said.
’s Port City project to go ahead; China may get the land: Minister
Feb 06, 2015 (LBO) – Sri Lanka’s Port City project would go ahead as the appointed committee to review the project had now found that an Environment Impact Assessment (EIA) had been conducted on the reclamation, Cabinet Spokesman Rajitha Senaratne said. Senarathne said the EIA had been conducted by Sri Lanka’s Moratuwa University. Sri Lanka […]
Sri Lanka sealed the $750,000 Strauss-Kahn deal
Feb 06, 2015 (LBO) – Sri Lanka’s new government has wrapped the deal with former IMF Chief Dominique Strauss-Kahn after paying USD 750,000 for being an advisor to set up International Finance Center to attract foreign investors to the island. Cabinet Spokesman Rajitha Senarathne said the Cabinet had decided to terminate the servicers of Khan […]
Sri Lanka Chamber Chief says not all private sector cos have ill-gotten gains
Feb. 05, 2015 (LBO) – Sri Lanka’s Chamber Chief commenting on the slapping taxes on the private sector by the new government, said that not all private sector companies in the Island had ill-gotten gains.“In terms of concerns on the budget actually yes, some of the one – off taxes will hurt. But if it […]
’s PM calls for Unity and Harmony among the communities in going forward
Feb 05, 2015 (LBO) – Sri Lanka has gained another chance to rebuild the nation with unity and harmony among communities, Sri Lanka’s Prime Minister Ranil Wickramasinghe said in an Independence Day message. Sri Lanka gained independence from British in 04th of February 1948 following a struggle led by the island’s first Prime Minister D […]
’s policy of Going Forward not what you see: Deputy Affairs Minister
Feb 05, 2015 (LBO) – Sri Lanka’s Deputy Policy Planning and Economic Affairs Minister Dr. Harsha de Silva, said that the new government would get the private sector and industry involved for a better economic policy in going forward. This is not necessarily means our policy Going Forward,” Our policy Going Forward will be formulated […]
Sri Lanka to generate revenue though taxes, not by printing money: Deputy Minister of Economy
Feb 05, 2015 (LBO) – Sri Lanka’s Deputy Policy Planning and Economic Affairs Minister Dr. Harsha de Silva, said that the new government would not print money to raise revenue to deliver election promises but would tax selected industries as a revenue generation measure. These must be look at not as individual effects or rather […]
Sri Lanka Chamber Chief says not all private sector cos have ill-gotten gains
Feb. 05, 2015 (LBO) – Sri Lanka’s Chamber Chief commenting on the slapping taxes on the private sector by the new government, said that not all private sector companies in the Island had ill-gotten gains. In terms of concerns on the budget actually yes, some of the one – off taxes will hurt. But if […]