Category: Economy and Markets

Feb 02, 2015 (LBO) – Sri Lanka’s Finance Minister said he was ready to pay Mansion Tax even though his house was less than 5000 square feet. He made this comment during a television program on Saturday. My house is about 4800 square feet but I’m ready to pay the tax because I imposed it, […]

Feb 02, 2015 (LBO) – Sri Lanka’s Treasury bill yields were flat on Monday’s auction with the 12-month yield unchanged at 6.05 percent, data from the state debt office showed. 6-month yield was also frozen at 5.90 percent and 1,325 million rupees were accepted from 5,660 million rupees. The debt office offered 12,000 million rupees […]

Jan 31, 2015 (LBO) – Sri Lanka’s Total Debt to Gross Domestic Product (GDP) ratio would increase to 88.9 percent from reported 74.4 percent of the government debt in the end 2014, the Finance Minister has said. According to the provisional data, the outstanding debt of the government as at end 2014 was LKR 7,373 […]

Jan 31, 2015 (LBO) –Sri Lanka inflation increased to 3.2 percent in January 2015 from 2.1 per cent in December 2014, on a year-on year basis, as a result of the increase in food prices, the Central Bank said in a media release. The data is based on the change in the Colombo Consumers’ Price […]

Jan 30, 2015 (LBO) – Sri Lanka’s new government impose an annual license fee of 1.5 million rupees irrespective of the fact whether importers are engaged in importing brand new or used vehicles, Finance Minister said yesterday. However this tax will take away the freedom of individual citizens to import cars and open paths for […]

Jan 30, 2015 (LBO) – Sri Lanka revised the vehicle taxes and cut taxes on the motor cars with engine capacity less than 1,000 cc by 15 percent, Finance Minister said yesterday presenting the mini budget. The changes has been taken place with effect from mid night yesterday. The Minister said that the measure has […]

Jan 29, 2015 (LBO) – Sri Lanka’s new government will reduce the prices of 13 essential goods by removing of taxes, Minister of Finance Ravi Karunanayake said, presenting an interim budget for 2015. We only promised to reduces prices of 10 goods but we manage to increase into 13 goods due to the economic problems […]

Jan 29, 2015 (LBO) – Sri Lanka will impose a 25 percent ‘super gains tax on companies earning over two billion rupees in net profit, Finance Minister Ravi Karunanayake said, in presenting the interim budget 2015 to the parliament today.He said there are only 35 to 40 companies which have to pay the newly imposed […]

Jan 29, 2015 (LBO) – Sri Lanka will impose a one time tax of one billion rupees on casino owners, Finance Minister Ravi Karunanayake said, in presenting the interim budget 2015 to the parliament today. He said the government expects a 5,000 million rupees of revenue though this tax which will come in to effect […]

Jan 29, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake said that the government plans to merge the national carrier SriLankan Airlines and the Mihin Lanka budget airline. He said the presenting the interim budget to the parliament today. “This will improve their efficiency and gradually reduce losses.” Karunanayake said. He said, the SriLankan […]

Jan 29, 2015 (LBO) – Sri Lanka’s new government reduced the price of 12.5 Kilogram cylinder of gas by 300 rupees. Finance Minister Ravi Karunanayake announced the new adjustment in presenting the interim budget 2015 to the parliament. He said the price has been reduces as a measure to reduce the cost of living of […]