The attention of the Central Bank of Sri Lanka (CBSL) has been drawn to certain information published in newspapers and news websites on 26th November 2019 regarding the regulatory actions taken by the CBSL on The Finance Company PLC (TFC) and it wishes to clarify the following. The CBSL issued a notice of cancellation of…
Sri Lanka’s stocks surged in the first hour of trading after the new government announced a slew of tax cuts that may help boost corporate earnings and demand. The Colombo All Share Index was up 100 basis points during the first hours of trading, with a turnover of Rs.1 billion
Capital Alliance Securities (CAL) research in a note to investors stated that the number of tax reliefs, which were announced at the first cabinet meeting under the newly elected Sri Lankan President Gotabaya Rajapaksa is likely to trigger an immediate and substantial boost in consumer spending. However, given the extent of the cut, especially in VAT…
(Reuters) – Sri Lankan shares ended higher on Wednesday, helped by gains in beverage and banking shares, while the rupee ended firmer on hopes of tax cuts by the new government. ** After the market closed, Cabinet Spokesman Bandula Gunawardana said the government has decided to reduce value-added tax to 8% from 15% with effect…
Sri Lanka’s new government has decided to abolish some taxes including the Nation Building Tax (NBT), Pay As You Earn (PAYE) Tax , Withholding Tax on interests, the Co-Cabinet Spokesperson Minister Bandula Gunawardana said. He stated this addressing the first press briefing to announce the Cabinet decisions of the new government this evening (27). The Cabinet…
Sri Lanka’s Cabinet of Ministers has decided to reduce the Value Added Tax (VAT) from 15% to 8%, Prime Minister Mahinda Rajapaksa stated. In the meantime, Co-Cabinet Spokesperson Minister Bandula Gunawardana said this VAT reduction will be in effect starting from the 1st of December 2019. He stated this addressing the first press briefing to…
The Embassy of Sri Lanka together with the Sri Lanka Tourism Promotion Bureau organised a workshop to promote Sri Lanka as a tourism destination to Belgium travellers. The workshop was the first of three tourism workshops the Embassy has planned to host in Belgium. The second workshop will be held in Antwerp on 28th November…
The machismo of the ride is rarely as well paired with world-record-setting fuel economy and guilt-easing eco credentials as in the all-new 2020 Kia Niro unveiled to media in Colombo today by Kia Motors (Lanka) Limited. Think 141 horse power, zero to 96 kilometres per hour in 8.6 seconds, a Guinness Book verified 32.5 kilometres…
The SheThePeople.TV Digital Women Awards are India’s top honour for emerging women entrepreneurs. This time in its fifth year, they invited two women entrepreneurs – Tamasha Fernando and Indu Nannayakkara at a power packed summit in Gurgaon, the business suburb of Delhi. The Digital Women Awards, presented by Google, recognise women on parameters like innovation, creativity,…
DFCC Bank PLC recently entered into a break through partnership with one of the oldest and most established corporate entities in the Maldives, Cyprea Group of Companies, for a dual-tranche bilateral term loan, together with trade finance and guarantee facility. This landmark transaction is the single largest bilateral deal arranged by DFCC Bank to-date. The…
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