Tag: business
The Ceylon Chamber Commerce has told the government that getting higher tax revenues will be a bigger challenge than controlling expenditure
The Ceylon Chamber Commerce has told the government that getting higher tax revenues will be a bigger challenge than controlling expenditure.The Ceylon Chamber Commerce has told the government that getting higher tax revenues will be a bigger challenge than controlling expenditure. Chamber Chairman Deva Rodrigo said the success of the first UPFA budget depends on […]
Next year’s budget success hinges on ambitious revenue targets, but a drop in economic growth, acutely shows the defeatism on the part of this nation.
Sri Lanka’s 2005 budget contained several measures to raise revenue and an ambitious target of cutting the revenue deficit to 1.3 percent of GDP from – 3.7 percent this year, and keeping the overall deficit at 7.6 percent of GDP. Sri Lanka’s 2005 budget contained several measures to raise revenue and an ambitious target of […]
Making babies, the UPFA way
Adorned in a very western two piece suit, Sri Lanka’s Harvard and University of France educated Finance Minister Dr. Sarath Leelananda Bandara Amunugama Thursday presented the United Peoples Freedom Alliances maiden budget speech in Sinhalese. Adorned in a very western two piece suit, Sri Lanka’s Harvard and University of France educated Finance Minister Dr. Sarath […]
Key state enterprises are being dressed up for commercial viability, while government hunts for fund manager to manage Rs. 15 bn in excess cash
Key state enterprises are being dressed up for commercial viability, while government hunts for fund manager to manage Rs. 15 bn in excess cash. Key state enterprises are being dressed up for commercial viability, while government hunts for fund manager to manage Rs. 15 bn in excess cash. Professional fund managers will get a chance […]
Tax break for agro sector to woo private investment
Agriculture is to be exempt from income tax, with earnings from the cultivation and sale of non-processed plants, non-taxable for five years from April 1 next year. Agriculture is to be exempt from income tax, with earnings from the cultivation and sale of non-processed plants, non-taxable for five years from April 1 next year. “This […]
Finance Minister Sarath Amunugama gave a lesson to the United National Party in political-speak, by explaining his failure to keep to budget targets and pushing the budget deficit to 8.5% of GDP
Finance Minister Sarath Amunugama gave a lesson to the United National Party in political-speak, by explaining his failure to keep to budget targets and pushing the budget deficit to 8.5% of GDP. Finance Minister Sarath Amunugama gave a lesson to the United National Party in political-speak, by explaining his failure to keep to budget targets […]
Highlights of Sri Lanka’s 2005 national budget.
Highlights of Sri Lanka’s 2005 national budget. The UPFA government’s budgetary strategy for the next three years. 1. Raise government revenue, within a medium term framework, to 19 percent of GDP and generate a revenue surplus in the budget equivalent to 3% of GDP. 2. Raise public investment to eight percent of GDP. 3. Reduce […]
Three wheelers to be sheltered from future fuel price increases
Three wheelers to be sheltered from future fuel price increases and three-wheeler leasing to be exempt from VAT.Three wheelers to be sheltered from future fuel price increases and three-wheeler leasing to be exempt from VAT. “About 200,000 three-wheeler operators carry one million passengers daily, occupying the least amount of road space and using the lowest […]
Govt plans to impose PAYE taxes on public servants salaries, while giving a Rs 2,500 salary hike
Putting in place a much-needed reform, the government is planning to impose PAYE taxes on public servants salaries, while giving a minimum of Rs.2,500 salary increase. Putting in place a much-needed reform, the government is planning to impose PAYE taxes on public servants salaries, while giving a minimum of Rs. 2,500 salary increase. But the […]
Cashed trapped Treasury plans to mandate those who own a car, house, credit card and a mobile phone to open a tax file
A person who pays an electricity bill of Rs 10,000, a phone bill of Rs 10,000, a credit card spend of more than Rs 25,000 a month, or buys a ticket to go abroad, must file a tax return if at least 4 of the conditions are met.A person who pays an electricity bill of […]
Setting the background to the 2005 budget speech Finance Minister Sarath Amunugama says the budget was prepared entirely by local experts without a single foreign expert
Setting the background to the 2005 budget speech Finance Minister Sarath Amunugama says the budget was prepared entirely by local experts without a single foreign expert. Setting the background to the 2005 budget speech Finance Minister Sarath Amunugama says the budget was prepared entirely by local experts without a single foreign expert. He said the […]
Railway to operate as a commercial enterprise within the department structure
The railway will operate as a commercial enterprise within the department structure, says the Finance Minister.The railway will operate as a commercial enterprise within the department structure, says the Finance Minister. Delivering the budget plans for 2005 Minister of Fianance, Sarath Amunugama said the railway authority law would be repealed but that the railway will […]