Tag: Budget

The 2006 budget expects revenue to go up by 1.1 percent of GDP to 17.5 percent of GDP and the overall budget deficit to remain at 7.1 percent of GDP. The 2006 budget expects revenue to go up by 1.1 percent of GDP to 17.5 percent of GDP and the overall budget deficit to remain […]

Sri Lanka plans to bring in changes to its banking laws before next March to mandate banks to double their agriculture lending portfolio, Treasury Secretary said Wednesday.Sri Lanka plans to bring in changes to its banking laws before next March to mandate banks to double their agriculture lending portfolio, Treasury Secretary said Wednesday. “Credit channeled […]

Sri Lankas main opposition party, the United National Party, took a sudden decision to boycott Tuesday budget, citing its a mere academicals exercise, a senior party spokesman said.“It was a sudden decision to boycott the budget, as there is no debate before the election next week,” UNP parliamentarian Rajitha Senerath said.rn rnSri Lankas Finance Minister […]

VAT on Financial Services Sri Lanka to hike value added taxes and excise duties to fund its welfare budget, finance minister Sarath Amunugama said Tuesday. VAT on Financial Services Sri Lanka to hike value added taxes and excise duties to fund its welfare budget, finance minister Sarath Amunugama said Tuesday. • VAT rate on financial […]

Sri Lanka’s annual budget presentation got off to an inauspicious start with the main opposition party boycotting the proceeding, while government benches were half empty. Sri Lanka’s annual budget presentation got off to an inauspicious start with the main opposition party boycotting the proceeding, while government benches were half empty. Finance Minister Sarath Amunugama began […]

Budget 2006 goes to Parliament next week, but Sri Lankan businesses are not showing the interest usually reserved for a national budget.Budget 2006 goes to Parliament next week, but Sri Lankan businesses are not showing the interest usually reserved for a national budget. Given Sri Lanka’s practice of sudden policy changes and surprise taxes, the […]

Sri Lanka Tuesday announced higher taxes on gambling, smoking and liquor but slashed other levies in a budget speech boycotted by the opposition which dubbed it a ploy to bribe voters before a key election. Sri Lanka Tuesday announced higher taxes on gambling, smoking and liquor but slashed other levies in a budget speech boycotted […]

Sri Lanka’s government is likely to announce ambitious spending plans to help low-income groups and farmers when it presents its 2006 budget proposals next week, analysts say. Sri Lanka’s government is likely to announce ambitious spending plans to help low-income groups and farmers when it presents its 2006 budget proposals next week, analysts say. The […]

The government has proposed a return to the automatic fuel price formula after squandering billions on a failed attempt to ‘unplug’ Sri Lanka from the global economy.The government has proposed a return to the automatic fuel price formula after squandering billions on a failed attempt to ‘unplug’ Sri Lanka from the global economy. “Recurrent expenditure […]

The Ceylon Chamber of Commerce wants a pre-election budgetary position made public, before the Presidential election.The Ceylon Chamber of Commerce wants a pre-election budgetary position made public, before the Presidential election. Sri Lanka’s leading trade chamber wants the government to amend the Fiscal Management (Responsibility) Act, to allow a pre-election fiscal report before a Presidential […]

Sri Lanka is offering tax breaks on vehicle permits, higher pay and cash for unpaid leave to encourage its bloated public sector to become more efficient. Sri Lanka is offering tax breaks on vehicle permits, higher pay and cash for unpaid leave to encourage its bloated public sector to become more efficient. The minimum salary […]

Sri Lanka’s Prime Minister is promising to give paid paternity leave, duty free vehicles for good taxpayers, free spectacles for the disable, and splash out billions of rupees by way of welfare subsidies, if he wins next month’s presidential poll, his party said Tuesday. Sri Lanka’s Prime Minister is promising to give paid paternity leave, […]