Tag: lbo
New tax benefits and reduction for bank deposits and retiring employees
Nov 16, 2006 (LBO) – Sri Lanka to halve the surcharge on individual deposits and hopes to increase the tax free threshold for retiring employees as well as remove tax on capital gains and benefits.President and Finance Minister Mahinda Rajapakse told Parliament the taxable interest level will be raised from 108,000 to 300,000 rupees and […]
‘s complicated VAT system becomes more complex
November 16, 2006 (LBO) — The multiple bank value added tax system of Sri Lanka which also has a non recoverable ‘VAT’ tax on financial firms became more complicated with a five percent charge on smaller business and a range of new adjustments.Jewellery manufactures who export would have to pay a one percent ESC on […]
‘s Tiger rebels
Nov 16, 2006 (AFP) – A British envoy was holding talks with Sri Lanka’s Tiger rebels Thursday to help salvage a faltering peace initiative, while in the capital the president wooed moderate Tamils, officials said.British MP Paul Murphy toured the violence-hit port city of Trincomalee Wednesday and began talks with Tamil Tiger guerrillas at the […]
Rights panel backs UN child soldiers charge against Sri Lanka
Nov 16, 2006 (AFP) – A New York-based rights group asked Sri Lanka’s government Thursday to arrest security force members allegedly involved in forcibly recruiting child soldiers on behalf of a Tamil rebel faction. Human Rights Watch said its investigations supported the findings of a top UN official who charged Monday that Sri Lankan security […]
Grid Failure
Nov 15 (LBO) – Sri Lanka was blacked out for nearly two hours Wednesday as the national grid shut down during the even peak demand hour.Power failed in most parts of the island except areas like Jaffna which is isolated from the national grid and Trincomalee in the east, residents said.Power failed shortly after 7.30 […]
Sri Lanka plans war budget
Nov 15, 2006 (AFP) – Sri Lanka plans to announce a war budget Thursday in which it will hike defence spending next year by 45 percent amid a spiralling conflict with separatist Tamil Tiger rebels, officials say. However money sent by Sri Lankans working abroad grew by 23 percent to 1.73 billion dollars and helped […]
Slain Sri Lankan Tamil legislator cremated amid protests
JAFFNA, Sri Lanka, Nov 15, 2006 (AFP) – Slain Tamil legislator Nadarajah Raviraj was cremated at his home district of Jaffna in northern Sri Lanka Wednesday as supporters shut businesses to protest his assassination.Raviraj, 44, was cremated at the Chavakachcheri cemetery while heavily armed security forces kept a low profile along the funeral procession from […]
Four children abducted as Sri Lankan military faces probe
Nov 15, 2006 (AFP) – Unidentified gunmen abducted four students in eastern Sri Lanka, a Tamil pro-rebel website said Wednesday as the president promised to probe allegations security forces recruited child soldiers.The Tamilnet.com website said the four youths were abducted Tuesday while working on a road construction project to supplement family income. The incident came […]
Sri Lankans brace for high growth and high inflation
November 14, 2006 (LBO) – Sri Lanka may have to settle for high inflation in the coming months as the government is keen to keep up the high economic growth momentum, treasury secretary P B Jayasundara said Tuesday. Though the budget will announce measures to contain demand pressure, it may not go as far as […]
Sri Lanka says four Tigers killed amid artillery duels
Nov 14, 2006 (AFP) – At least four Tamil Tiger rebels were killed in a fire fight in eastern Sri Lanka, the defence ministry said Tuesday as sporadic artillery duels raged elsewhere.A security force patrol confronted a group of Tiger rebels at a village in the district of Batticaloa on Monday and the four rebels […]
Britain to push Sri Lanka peace bid amid child soldier charge
Nov 14, 2006 (AFP) – A British envoy arrived in Sri Lanka on Tuesday in a bid to salvage a tottering peace process as the former British colony faced UN charges of recruiting child soldiers.British MP Paul Murphy held talks with Sri Lankan officials handling the Norwegian-backed peace process, officials said, adding he planned to […]
Body of slain Sri Lankan MP flown to Jaffna for cremation
Nov 14, 2006 (AFP) – The body of assassinated Tamil legislator Nadarajah Raviraj was flown Tuesday to his home constituency of Jaffna for cremation the following day.Raviraj, 44, was shot dead by unidentified gunmen as he drove to work in Colombo on Friday morning.He was the second member of the Tamil National Alliance (TNA) to […]