Category: Budget
Sri Lanka budget has reformist agenda: CT CLSA
Nov 23, 2015 (LBO) – The 2016 budget can be termed as a reformist agenda, that looks to address short-term risks to the economy while setting up Sri Lanka for the long run, CT CLSA Securities said in a report on the budget. "Being used to budget speeches that were extremely populist, or included implausible […]
Budget 2016 is forward looking: CSE Chairman
Nov 23, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange chief Vajira Kulathilake has said the budget 2016 is forward looking and praised tax breaks and other support given to the stock market. The full statement is reproduced below :- It is admirable to note the support extended to the capital market of Sri Lanka […]
Budget 2016 Big, Bold and Progressive: Lanka Securities
Nov 22, 2015 (LBO) – Lanka Securities Research has released their preliminary assessment of the budget proposals with its impact on the listed companies.Reproduce below is the report. [pdf-embedder url="https://www.lankabusinessonline.com/wp-content/uploads/2015/11/Budget-2016-Big-Bold-and-Progressive.pdf%22]
Chamber welcomes Budget as Investment and Development Oriented
Nov 22, 2015 (LBO) – The Ceylon Chamber of Commerce has welcomed the Budget 2016 for its measures to boost private investment and promote inclusive economic growth. The statement is reproduced below. Budget 2016 has shown a commitment to enhancing private sector participation in the economy through PPPs, begin to rationalise state expenditure, undertake some […]
Govt to raise Rs20bn from new excise duty for motor cars
Nov 20, 2015 (LBO) – Sri Lanka’s government is to introduce a unit rate of excise duty for the vehicles on the basis of cubic centimeters (cc) that generate 20 billion rupees for government, Finance Minister told Parliament Friday.A new valuation system was introduced recently taking full option manufactures price as the tax base, due […]
Budget 2016 Coverage – Proposals and Full Speech
Nov 20, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake commences the 2016 budget speech in Parliament. Key points: Proposals Micro, small and medium enterprises – Micro, small and medium enterprises find it hard to raise equity and debt financing with reluctance of financial institutions to lend to them. Advisory committee to develop SME […]
Sri Lanka corporates hope for business friendly budget
Nov 18, 2015 (LBO) – Sri Lanka’s business community is looking foward to budget proposals that support the rapidly changing dynamics of the economy and address the budget deficit, private sector officials said.Restructuring the state sector is a key priority that should be addressed, although this requires decisive action by administrators, rather than budget proposals […]
Sri Lanka need not maintain super gain tax: PM
Nov 06, 2015 (LBO) – Sri Lanka’s much talked about super gain tax imposed by the new administration in its interim budget 2015 need not be maintained, Prime Minister Ranil Wickremesinghe told Parliament on Thursday.“With the intermediate budget guidelines, we imposed a Super Gain Tax. This was based on the fact that the demand for […]
Sri Lanka accounting body calls for fiscal consolidation
Oct 23, 2015 (LBO) – Sri Lanka’s main accounting body has called for critical fiscal consolidation plan for both the revenue and expenditure sides of the government.“The government needs reforms in terms of structural changes as well as changes in the revenue and the expenditure sides,” President of CA Sri Lanka, Arjuna Herath said. Herath […]
Sri Lanka’s budget deficit around 6.8-pct in 2015: Finance Minister
Oct 20, 2015 (LBO) – Sri Lanka’s budget deficit will be around 6.8 percent of GDP for this year, higher than the budgeted 4.4 percent, Finance Minister Ravi Karunanayake said. The IMF mission concluding its visit to Sri Lanka last month said it projects a budget deficit of 5.5 to 6 percent of GDP in […]
Sri Lanka’s Budget 2016: Revenue Rs1.7tn; Expenditure Rs3.1tn
Oct 08, 2015 (LBO) – Sri Lanka’s total borrowing requirement from both foreign and local sources for the year 2016 will be 1,349 billion rupees, revealing 2016 budget figures the government said.The revenue at the prevailing rates structure and foreign grants have been estimated to be around 1,789 billion rupees.The total expenditure provision for 2016 […]