Tag: lbo
‘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 […]
Sri Lanka asks Tigers to resume talks as war budget bites
Nov 16, 2006 (AFP) – Sri Lanka’s president appealed to Tiger rebels Thursday to enter talks and end spiralling violence on the island as a British envoy moved to jumpstart stalled peace efforts. The deficit of 235 billion rupees (2.18 billion dollars) is to be financed mainly through domestic and foreign borrowings. Please click to […]
India expresses deep concern over civilian killings in Sri Lanka
NEW DELHI, Nov 16, 2006 (AFP) – India’s prime minister has expressed deep concern over rising civilian deaths in Sri Lanka’s ethnic conflict, saying there was no justification for the violence, the Press Trust of India reported.Manmohan Singh, in a letter to the chief minister of southern Tamil Nadu state M. Karunanidhi, said he planned […]
Government promises better budget for Sri Lanka; opposition skeptical
November 16, 2006 (LBO) – The government says the upcoming budget would be growth oriented, with medium term objectives in view, while the opposition which is supporting the budget in parliament, warns that the poor would be hurt if fiscal weaknesses continue. Singapore and Hong Kong which have inflation of around two percent do not […]
Sri Lanka gives tax incentives to develop shipping industry
November 16, 2006 (LBO) – Sri Lanka is to give a range of tax incentives and relaxed foreign borrowing restrictions to boost shipping and allied maritime activity, as part of budget proposals announced Thursday.“Sri Lanka is an island nation which is active in international trade, and we want develop shipping, and shipping service activities as […]
‘s construction industry to get tax concessions
November 16, 2006 (LBO) – The government is giving tax benefits to the domestic construction industry in Sri Lanka to help them undertake large projects such as building flyover and townships.The government said it wanted to implement a a co-ordinated program with organizations in the industry and skills development institutions to produce craftsmen to fill […]
Sri Lanka offers cheap credit for small and medium entrepreneurs
November 16, 2006 (LBO) – Sri Lanka is offering a 13.295 billion rupee credit line on concessionary terms to develop small and medium scale industries, President Mahinda Rajapakse said Thursday.He said over 100,000 such industries will be eligible to tap the funding line with interest payments spread between 6.5 percent to 14.0 percent. Sectors eligible […]
Unit Trusts gets tax benefits; new tax to force dividend payments by corporates
November 16, 2006 (LBO) – Sri Lanka’s government has introduced a controversial new tax to encourage dividends payment of listed companies, while giving incentives for the unit trust industry.Firms that do not distribute dividends would be subject to a penal withholding tax, according to new proposals released in the 2007 budget. “A company should try […]
Local gem, jewellery trade get tax friendly budget
Nov 16, 2006 (LBO) – Local jewellers have got a host of tax reductions in the country’s budget proposals for next year, as well as restrictions on jewellery imports.The Port and Airport Development levy on gems, jewellery and gold is to be removed and the Value Added Tax on jewellery reduced from 20 percent to […]
Budget reduces passport fees for locals, raises fees for foreign visitors
Nov 16, 2006 (LBO) – Sri Lanka is imposing a 10 dollar fee on tourists visiting the island, while locals opting to travel abroad will pay less when they apply for a passport.These new proposals under the citizenship act will take effect from December 1, 2006. Please click to read the Budget 2007 speech: Sri […]
Sri Lanka slaps higher duties on imported shoes
Nov 16, 2006 (LBO) – Sri Lanka’s leather and shoe industry is to be exempt from import taxes on raw materials and machinery, while imported shoes are to be slapped with higher duties.All materials imported for the processing and manufacture of leather and leather related products is to be exempt from import duty and Value […]