Tag: Budget

Oct 24, 2014 (LBO) – Sri Lanka’s government to increases monthly salary of the state sector employees to minimum 15,000 rupees, President Mahinda Rajapaksa said presenting a budget for 2015.He said the budget 2015 targets to minimize the salary anomalies of the state sector. The cost of living allowance of the state employees will be […]

Oct 24, 2014 (LBO) – Sri Lanka president suggests to uplift the minimum salary of a private sector employee to 10,000 rupees from January 2015.He also suggest to increase minimum salary level by 500 rupees monthly for those who already get paid over 10,000 rupees per month. “The honorable speaker, I have seen the salaries […]

Oct 23, 2014 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce expects the ‘National Budget of 2015’ will be in line with the development agenda of the government, the chamber said in a media release. The Media Release by Ceylon Chamber of Commerce The Ceylon Chamber of Commerce expects the proposals that will be presented […]

Oct 09, 2014 (LBO) – Sri Lanka’s budget for the year 2015 is more towards development rather than catering to mere election purposes, Treasury Secretary P B Jayasundera said. The 2015 budget will be presented to the parliament on 24, October 2014. “Although there was a reference made in the last weekend media that the […]

Nov 21 (LBO) – A controversial tax to force Sri Lankan companies to pay dividends would undermine the health of the commercial banks by depleting their capital, a top banker has warned. The government is keen to push dividends in order to charge the dividend tax. But private sector officials point out that choice of […]

November 21 (LBO) – Sri Lanka’s loose monetary policy came under fire at a gathering of top economists and business leaders in the country, with panelists slamming the Central Bank for pushing inflation up, creating a credit bubble and putting Sri Lanka’s balance of payments under pressure. Upside Down Though the economy was growing at […]

Nov 17, 2006 (LBO) – After creating two new state banks in successive budgets, Sri Lanka’s government is planning to merge and consolidate them with a network of existing rural banks. Sri Lanka already has two development banks, as well as medium term credit facilities that are channeled through commercial banks.The SME Bank was created […]

Nov 17, 2006 (AFP) – Sri Lanka is set to borrow heavily abroad and at home in a bid to finance a record 2.18 billion dollar budget deficit next year, official figures showed Friday. The overall budget deficit for 2007 was estimated at 7.2 percent of Gross Domestic Product while the government revised the 2006 […]

November 16, 2006 (LBO) – Sri Lanka is expecting a 9.1 percent budget deficit in 2007, with the revised budget deficit for 2006 being estimated at 8.7 percent of GDP. Sri Lanka’s Central Bank is estimating the debt to GDP ratio to fall to 91.5 percent from 93.9 percent by year end. For the second […]

Nov 16, 2006 (LBO) – Local jewellers have got a host of tax reductions in the country’s budget proposals for next year, as well as restrictions on jewellery imports.The Port and Airport Development levy on gems, jewellery and gold is to be removed and the Value Added Tax on jewellery reduced from 20 percent to […]

Nov 16, 2006 (LBO) – Sri Lanka is imposing a 10 dollar fee on tourists visiting the island, while locals opting to travel abroad will pay less when they apply for a passport.These new proposals under the citizenship act will take effect from December 1, 2006. Please click to read the Budget 2007 speech: Sri […]

Nov 16, 2006 (LBO) – Sri Lanka’s leather and shoe industry is to be exempt from import taxes on raw materials and machinery, while imported shoes are to be slapped with higher duties.All materials imported for the processing and manufacture of leather and leather related products is to be exempt from import duty and Value […]