Monetary Policy Board further reduces policy interest rates by 1-pct
The Monetary Policy Board of the Central Bank of Sri Lanka, at its meeting held on 23 November 2023, decided to reduce the Standing Deposit Facility Rate …
Economy & Markets
Sri Lanka’s Economic Crossroads: Harsha De Silva’s Unveiling Critique of Budget 2024
● Blatant violation of the Fiscal Management Responsibility Act in Budget 2024, with budget deficit exceeding 5%. ● Staggering increase in poverty …
VAT exemptions will be limited to health, education & few essential foods: Deloitte Sri Lanka budget discussion
Deloitte Sri Lanka, part of the international auditing, consulting, and financial advisory giant, Deloitte Global, held a special “Budget Night” panel …
Sri Lanka’s Ambitious Budget Agenda Faces High Implementation Risks: Fitch Ratings
The targets laid out in Sri Lanka’s budget for 2024 will be challenging to meet, even with the economic recovery that we expect to continue next year, says …
Budget 2024: Pragmatic Implementation & Timely Execution Will be Key, says CCC
The Ceylon Chamber of Commerce considers the 2024 Budget as a crucial step in continuing the macroeconomic stabilization measures that began in late 2022, as a …
Comm Bank Group’s 9-month gross income up 30.88-pct to Rs 256 Bn
A heightened emphasis on lending has seen the Commercial Bank Group increase gross loans and advances by Rs 51.404 billion in the third quarter of 2023 at a …
Full Budget Speech 2024
DOWNLOAD DOWNLOAD President Ranil Wickremesinghe, serving as the Minister of Finance, presented the 2024 budget to Parliament under the theme "Prelude to a …
Tax Administration and Tax Policy Revisions
Excise Department Introduction of an online license-issuing system. And increase in the Excise License fees. Introduction of Sri Lanka Standards (SLS) …
Sri Lanka Allocates Rs. 3000 Bn for Sovereign Bond Settlement in 2024 Budget
Sri Lanka has earmarked a substantial Rs. 3000 billion for the execution of foreign debt restructuring and the settlement of international sovereign bonds …
Reliefs for Government Servants Extended in Budget 2024
The cost-of-living allowance for public servants will be increased to LKR 17,800 from LKR 7,800 with effect from 01 January 2024 and the payment will commence …
Sri Lanka Budget Speech 2024 – Highlights
President and Finance Minister Ranil Wickremesinghe is delivering the Second Reading of the Appropriation Bill for the financial year 2024 in Parliament. Sri …
Government urged to crack down on tax evaders instead of taxpayers: Harsha
In a press conference held yesterday, MP Harsha de Silva, Chairman of the Committee on Public Finance, shed light on the government's tax collection efforts, …
Focus on Including Private Sector Proposals for Building the Economy in the Budget
President Ranil Wickremesinghe has announced his intention to prioritize the inclusion of proposals from the private sector in this year's budget and to …
Ceylon Chamber Advocates for a Balanced Fiscal Approach Over Proposed VAT rate hike
The Ceylon Chamber of Commerce raises concerns regarding the proposed increase of the Value Added Tax (VAT) to 18%. While recognising the government's …
PUCSL electricity tariff revision discriminatory: Advocata
Electricity tariff design must meet two main objectives: firstly, raising the money needed to pay for the costs of provision, and secondly, sending the right …
World Bank Managing Director Visits Sri Lanka, Stresses Need to Pursue Reforms, Invest in People
World Bank Managing Director for Operations, Anna Bjerde, concluded her four-day visit to Sri Lanka today, encouraging the Government of Sri Lanka to stay the …
VAT to be increased to 18-pct from January; coverage will be expanded to meet targets agreed with IMF
The current Value Added Tax (VAT) rate is to be increased to 18% with effect from 01-01-2024, and to impose the tax on certain goods and services to which the …
Opinion: Reforming tax incentive structure in Sri Lanka
The second tranche of the International Monetary Fund’s (IMF) Extended Fund Facility (EFF) was delayed as the country failed to meet some of the program …
CDS signs Agreement with LankaPay Online Payment Platform
The Central Depository Systems (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE), recently signed an agreement with LankaPay, Sri Lanka's …