Category: Budget
Sri Lanka falls on Open Budget Index 2015, says Verité
Sep 10, 2015 (LBO) – Sri Lanka has ranked among countries in the world that provides the public with minimal budget information, a new survey showed.International Budget Partnership released its latest survey which measures the state of budget transparency, participation, and oversight in 100 countries around the world. The Open Budget Index measures the level […]
‘s ruling UNP to present new budget after winning general election
July 03, 2015 (LBO) – Sri Lanka’s ruling United National Party on Friday said they are presanting a new budget if they win the upcoming general election. Former Deputy Minister of Economic Policy, Dr. Harsha de Silva responding to a question raised by LBO said they are yet to decide on the super gain rax […]
‘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 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.
Sri Lankan government wins crucial budget vote 2015
Nov 24, 2014 (LBO) – The Sri Lankan government won a crucial vote in parliament to pass its budget for 2015 on Monday afternoon after days of speculation.The decision came after much speculation about the fate of the government if it failed to muster enough votes to have the budget passed by parliament. If the […]
Sri Lanka Chamber welcomes budget 2015
Oct 27, 2014 (LBO) –Sri Lanka’s Ceylon Chamber of Commerce welcomes the ‘National Budget of 2015’ which is presented to the parliament last week, the chamber said in a media release. The Media Release by Ceylon Chamber of Commerce The Ceylon Chamber of Commerce welcomes the commitment to continued fiscal consolidation in the Budget 2015, […]
Sri Lanka government is to allocate 15,000 million rupees for irrigation projects: Budget 2015
Oct 25, 2014 (LBO) – Sri Lanka’s government to allocate 15,000 million rupees to develop irrigation system in the Island, President Mahinda Rajapaksa said presenting a budget for 2015.Sri Lanka which has a rich history in hydrology has some of the best man-made lakes in the world.Most of the island’s lakes or Samudraya’s were built […]
Sri Lanka small medium tea planters subsidy increased: Budget 2015
Oct 25, 2014 (LBO) – Sri Lanka government to increase replanting subsidy to small medium tea planters from 875,000 rupees to one million rupees per acre, President Mahinda Rajapaksa said presenting a budget for 2015.The extent of the island’s tea plantations is 206104 hectares of which 70 percent are small holdings that are cultivated by […]
Sri Lanka to increase certified price for rubber: Budget 2015
Oct 25, 2014 (LBO) – Sri Lanka President in his capacity as the Minister of Finance said the government is expecting to increase the certified price for rubber to 300 rupees per kilogram and increase the Cess tax on rubber imports by 10 rupees per kilo.The funds will be allocated to modernise the Tea (TRI) […]
Sri Lanka super markets to maintain VAT and NBT but Small Businesses exempted
Oct 25, 2014 (LBO) – Sri Lanka president suggested the super markets to maintain value added tax (VAT) and national building (NBT) tax as at 100 million rupees per quarter.He also suggested to exempt all the small and medium businesses who earns 15 million rupees or below per year from VAT and NBT. The number […]
VAT Reduced: Payee tax limited: Budget deficit to be reduced: Budget 2015
Oct 25, 2014 (LBO) – Sri Lanka President suggested to reduced value added tax to 11 percent and limited payee tax to 16 percent, thought the budget 2015.Sri Lanka plans to reduce budget deficit to 4.6 percent in 2015. Currently the value added tax is 12 percent in the island. The government plans to reduce […]
Sri Lanka to reduce water chargers: Budget 2015
Oct 25, 2014 (LBO) – Sri Lanka budget 2015 suggests to reduce the chargers of the first 25 units of household water supply by 10 percent.Also budget 2015 plans to invest 750 million rupees to start new water supply schemes, giving more importance to places with kidney and water related diseases. President Mahinda Rajapaksa, in […]