The Sri Lankan delegation secured second place overall at the Asia Pacific ICT Alliance (APICTA) Awards 2019 held from 19th to 22nd November, 2019 at Ha Long Bay, Vietnam. APICTA is an alliance of national ICT organizations to build and enhance a mutually cooperative network to promote ICT across the Asia Pacific region with 16 permanent member…
CT CLSA Securities (Pvt) Ltd expects the stock market to react positively from today (28) following the slew of tax exemptions announced by the new government. “The proposals are positive for sectors across the board with reduced taxes likely to drive the overall economic activity and the broader consumer sentiment. Whilst the proposals are yet…
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…
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