Tag: lankabusinessonline

The government is hoping to persuade BOI firms to submit to the proposed Economic Service Charge.Finance Minister K N Choksy says the agreements with BOI firms and International Investor Protection Agreements, that the government is signatory to, prevented the state from slapping such levies against their will.rn rnFinance Minister however says they should pay the […]

The main opposition Peoples Alliance is geared for Act Two of the ongoing political drama, with the President on Thursday setting a mid December deadline for political haggling with the Prime Minister to end.President Chandrika Kumaratunga set this deadline, while addressing a cross section of the business community late Thursday.rn rnA memorandum of understanding between […]

World Bank is likely to chip in and help the government foot the hefty early retirement bill to off load around 300,000 public servants. rnrnrnrnrnrnrnNew Page 1rnrnrnrnrn Talks on negotiating the wish list under thernfourth tranche of the World Banks Poverty Reduction Support Programme, is duernto start next year. Part of the hefty VRS package […]

The main opposition Peoples Alliance is geared for Act Two of the ongoing political drama, with the President on Thursday setting a mid December deadline for political haggling with the Prime Minister to end.President Chandrika Kumaratunga set this deadline, while addressing a cross section of the business community late Thursday.rn rnA memorandum of understanding between […]

The Treasury is taking a second look at budget proposal to slap a new tax on equity trading, following howling protest by market players.rnrnrnrnrnrnProposals like a tax on mobile phones and Economic Service Chargernrnrnrnrn Proposals like a tax onrnmobile phones and Economic Service Charge (ESC), have also grabbed policymakersrnattention for some tinkering before they come […]

The UNF government is prepared to forget the past and offer a greater role for the opposition in the current peace talks, if a consensus can be developed on the peace process and the economy, Minister G L Pieris says.ldblquote The government wishes very strongly to put the strains and tensions, that have characterised the […]

Stockbrokers are sitting on a potential gold mine as a result of a new tax on equity trading proposed in the budget.rnrnrnrnrnrnNew Page 2rnrnrnrnrn A 15rnpercent tax on trading profits on share transactions, is just one of the newrntaxes slapped by the UNFs third budget, to strengthen governments finances.rn Equityrnmarket investors are the ones who […]

A blocked nose and bad cold ridden throat could not keep away Finance Minister K N Choksy, adorned in a blue checkered tie, from walking down the pink carpeted parliament aisles with the budget tucked away in a wood finished briefcase in one hand to come present the 2004 fiscal plan on a rained out […]

Finance Minister K N Choksy made the strongest statement yet that the government is committed to a strong rupee policy.ldblquote Sri Lankans have accepted with complacency and resignation the concept of a weak rupee prevailing indefinitely dblquote , Minister Choksy said, during the round up of recent economic developments presented shortly before the budget proposals.rn […]

A new tax called Economic Service Charge (ESC) of one percent over turnover or assets will come into effect next year, in an attempt to net in firms not paying government taxes.ESC will be slapped as an advance collection on the final tax payable on companies, including BOI firms, with a turnover in excess of […]

Two new export-processing zones will spring up next year, as part of the governments plans to spur economic activity.As Lanka Business Online reported on Tuesday, a second export zone will come up in Keragala, Biyagama in addition to another location in Pannala.rn rnFinance Minister K N Choksy says, the Board of Investment (BOI) is faced […]

The government unveiled grand policies to develop the Southern province with plans to develop an airport, a port and set up an oil refinery.Finance Minister K N Choksy told legislators on Wednesday that the Southern expressway will be extended to Hambantota and Wellawaya.rn rnldblquote Our infrastructure development plan also envisages the development of a port […]