The new Inland Revenue bill, which was gazetted on 16th June 2017, was tabled in Parliament on 05th July 2017. Once passed by Parliament, this Bill will replace the existing Inland Revenue Act No 10 of 2006. As indicated by the government, the objective of introducing the new Bill is to broaden the existing tax…
Reuters – Sri Lankan shares closed lower on Tuesday, marking their fifth session of decline in six, although foreign investors continued to buy stocks. Domestic investors were concerned about a possible increase in interest rate, analysts said, after the International Monetary Fund said further monetary policy tightening in Sri Lanka was desirable until there were…
COLOMBO, July 18 (Xinhua) — Sri Lanka’s Tourism Minister John Amaratunga Tuesday said direct air links with China have boosted the country’s tourism market as more Chinese tourists are now choosing Sri Lanka as a holiday destination. Amaratunga said there are direct air links between Colombo and Chinese cities without transit and the country is…
ASPI up by 8.23% and S&P SL 20 up by 11.03% in 2017 Foreign Purchases in 2016 first half doubled in 2017, an all-time high for foreign purchases in the first half of a calendar year Year-to-date net foreign inflow of 23 Billion (Rs. 36 Billion including primary and secondary market) …
Budget chain easyHotel is to expand into Iran and Sri Lanka by signing two master development agreements. The deal for Iran is expected to result in more than 500 new easyHotel rooms in the country, while 200 rooms are planned for Sri Lanka. The first 100 rooms in Sri Lanka are due to be open…
A Taco Bell franchisee opened the restaurant’s first location in Sri Lanka, a local news report said. Irvine-based Taco Bell Corp. had said in May that it would enter the market as part of an international push over the next five years. About 95% of the chain’s 6,700 locations are in the U.S. The Mexican-themed…
The International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD) of the World Bank has shown their interest to mobilize its funds through a credit of USD 100 mn for the Accelerating Higher Education Expansion and Development (AHEAD) Operation. Accordingly, the proposed programme aims to increase enrolment in higher education programs…
Reuters – Sri Lankan shares fell on Monday, after posting their highest close in more than 18 months in the previous session, as investors booked profits in blue chips. However, foreign players bought stocks on expectations of strong corporate earnings, limiting the downside. The Colombo stock index dropped 0.37 percent to 6,741.07, its fourth session…
IMF Executive Board completed the second review of Sri Lanka’s Extended Fund Facility (EFF) arrangement, which enables the disbursement of about US$ 167.2 million. The new Inland Revenue Act will support fiscal consolidation, make the tax system more efficient and equitable, and generate resources for social and development programs. Further accumulating international reserves and enhancing…
Investigations have been initiated against 20 more officials who had been serving under the Employees Provident Fund (EPF) during the time of the controversial bonds issue affair, say internal sources from the Central Bank of Sri Lanka (CBSL). These sources further added that written explanations have been called fro from these particular officials and they…
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