Tag: economy
Sri Lanka abandons single band VAT with triple layer and plans to tax weddings and related services at a higher rate of 18%
The government abandons single band VAT and is planning to tax weddings and wedding services, and reception hall rentals at a new higher rate of 18 percent.The government abandons single band VAT and is planning to tax weddings and wedding services, and reception hall rentals at a new higher rate of 18 percent. “The single […]
SME Bank and SME Fund to support small and medium enterprises.
The UPFA government’s maiden budget set aside Rs.26,561 mn to support production sector activities and SMEs.The UPFA government’s maiden budget set aside Rs. 26,561 mn to support production sector activities and SMEs. Production activities included the sectors of small and medium industries, agriculture, plantation, livestock, fisheries, enterprise development and tourism. However, the government hopes to […]
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 […]
The Finance Minance Minister’s eBudget goes in to the box
On Wednesday afternoon a beaming Finance Minister, Dr.Sarath Amunugama ceremonially transferred the an e-assisted budget to the red budget box for the UPFA government’s maiden budget reading on Thursday.On Wednesday afternoon a beaming Finance Minister, Dr. Sarath Amunugama ceremonially transferred the an e-assisted budget to the red budget box for the UPFA government’s maiden budget […]
Japan lends Rs. 780 mn to ease balance of payment crunch and promote economic development
Sri Lanka has secured around Rs. 780 mn (Japanese Yen 800 mn) worth of financial assistance from Japan to ease balance of payment difficulties and promote economic development. Sri Lanka has secured around Rs. 780 mn (Japanese Yen 800 mn) worth of financial assistance from Japan to ease balance of payment difficulties and promote economic […]
‘s eBudget goes in to the box
On Wednesday afternoon a beaming Finance Minister, Dr.Sarath Amunugama ceremonially transferred the an e-assisted budget to the red budget box for the UPFA government’s maiden budget reading on Thursday.On Wednesday afternoon a beaming Finance Minister, Dr. Sarath Amunugama ceremonially transferred the an e-assisted budget to the red budget box for the UPFA government’s maiden budget […]
Friar Tuck and Maid Marian support home grown budget
Sri Lanka’s Finance Minister lashed out at the country’s English press and an international wire service on the eve of the budget, for what he termed biased reporting of the economic situation of the country.Sri Lanka’s Finance Minister lashed out at the country’s English press and an international wire service on the eve of the […]
Finance Minister promises to confound his critics through the budget
Sri Lanka’s government is promising to confound its critics through a budget, which will signal a shift in policy from recent years.Sri Lanka’s government is promising to confound its critics through a budget, which will signal a shift in policy from recent years. “I can only say that it will be a people friendly budget,” […]
Deadlock in peace talks compounds Sri Lanka’s economic woes
The latest failed attempt to revive peace talks is bad news for Sri Lanka’s economy, already in trouble from high inflation, a foreign exchange crisis and a falling rupee.The latest failed attempt to revive peace talks is bad news for Sri Lanka’s economy, already in trouble from high inflation, a foreign exchange crisis and a […]
‘s economic woes
The latest failed attempt to revive peace talks is bad news for Sri Lanka’s economy, already in trouble from high inflation, a foreign exchange crisis and a falling rupee.The latest failed attempt to revive peace talks is bad news for Sri Lanka’s economy, already in trouble from high inflation, a foreign exchange crisis and a […]
Further tax hikes on business and high income earners may top Thu. budget
Sri Lanka’s government will likely focus on measures to boost revenue when it presents its 2005 budget next week, with a series of new taxes targeting businesses and high-income groups expected to be at the top of the list.Sri Lanka’s government will likely focus on measures to boost revenue when it presents its 2005 budget […]