Tag: Budget LBO
Sri Lankan earnings from abroad to be tax free
Nov 07, 2007 (LBO) – Incomes earned abroad by Sri Lankans including dividends and interest earned abroad that is remitted through the banking sector would be made free of income tax, according to proposals in the 2008 budget. Profits and income by individuals, partnerships, fees and allowances and dividends or interest from investments outside Sri […]
Sri Lanka budgets 7-pct deficit for 2008
Nov 07, 2007 (LBO) – Sri Lanka says the budget deficit for 2008 would be 7.0 percent of the economy and the country was hoping to balance its revenues and day-to-day expenditure, a goal that has proved elusive for two decades. The government also promised a revenue surplus in 2007 but ended up with a […]
Sri Lanka to limit tax holidays – Update II
Nov 07, 2007 (LBO) – Sri Lanka would cap tax holidays to a maximum of three years from 2008, and extend tax incentives only to low income housing and projects in difficult rural areas, President and finance minster Mahinda Rajapaskse said.“(We will) give only three year tax holidays other than for flagship investments, or to […]
Sri Lanka talks growth-inflation tightrope
Nov 07, 2007 (LBO) – Central Bank governor Ajith Nivard Cabraal said that tight monetary policy and efforts to reduce the budget deficit should trim sky-high inflation in the coming months. He said the government has to maintain a balance between controlling inflation and maintaining steady economic growth. Cabraal said Wednesday the island had coped […]
Sri Lanka seeks budget balance between subsidies and development
Nov 07, 2007 (LBO) – Sri Lanka is seeking a balance between subsidies and development in a budget for 2008 to be presented today, as officials said planned capital spending had been sacrificed in 2007. “We are at a time when we need to present long-term answers to the problems of the country,” deputy finance […]
Sri Lanka leader says terrorism must be defeated to achieve peace
Nov 07, 2007 (LBO) – Sri Lankan President Mahinda Rajapakse said Wednesday that Tamil Tiger separatist terrorism has to be defeated in order to achieve peace in the island.Sri Lanka has been left with a weak and unstable economy owing to 25 years of terrorism, poor infrastructure development and inadequate attention to developing the domestic […]
India software exports head for 60-billion-dollar mark
BANGALORE, India, July 2, 2007 (AFP) – India’s exports of software and related services are expected to almost double in three years to 60 billion dollars, maintaining the country’s lead over rivals such as China, the industry said Monday.But the rupee’s strength and a shortage of talent are major concerns for an industry that posted […]