As part of on-going efforts to support economic recovery and ease the burden on mid-level income earners, the government has announced proposed adjustments to the Personal Income Tax (PIT) structure. These changes are aimed at maintaining fiscal responsibility while providing relief to those most affected by recent tax reforms introduced in early 2023. The Cabinet Memorandum outlines a proposed amendment …
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The International Monetary Fund (IMF) Communications Department Director Julie Kozack said it is ready to move forward with programme discussions after the Presidential election is held and a new government is formed based on the choice of the people. Julie Kozack made these remarks while responding to a question whether it is possible to renegotiate or revisit the debt sustainability …
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The Embassy of Sri Lanka in the Netherlands, with the support of the Sri Lanka Tourism Board (SLTPB), participated in the “Embassy Festival 2024” held in The Hague recently. The Embassy organized two stalls showcasing Sri Lankan tourism, culture, cuisine, tea and handicrafts to the Dutch and other international visitors. The “Embassy Festival” is an annual event organized by the …
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Taking into consideration the macro-economic developments, in particular the developments in domestic foreign exchange market conditions, Central Bank of Sri Lanka issued the “Repatriation of Export Proceeds into Sri Lanka Rules No. 01 of 2024” (Rules), which was published in the Gazette Extraordinary No. 2391/02 dated 01.07.2024, in terms of the Central Bank of Sri Lanka Act, No. 16 of …
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For the first time in history, Sri Lanka Customs has achieved record revenue of Rs.1, 000 billion (Rs. 01trillion) during the first eight months of this year, thanks to the opportunity given to the administrative authority and officials to operate independently without external interference. The International Monetary Fund (IMF) has set a revenue target of Rs.1, 534 billion for 2024. …
Continue ReadingFor the first time in history, Sri Lanka Customs has achieved record revenue of Rs.1, 000 billion (Rs. 01trillion) during the first eight months of this year, thanks to the opportunity given to the administrative authority and officials to operate independently without external interference. The International Monetary Fund (IMF) has set a revenue target of Rs.1, 534 billion for 2024. …
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President Ranil Wickremesinghe announced plans to establish a new investment company that will manage state assets, ensuring that the rights of the people are protected. He also stated that new laws would be introduced to support this initiative. Additionally, the President highlighted the potential for new investments that will generate assets and help create a structured retirement planning system. These …
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President Ranil Wickremesinghe emphasized the strength and talent of his team, asserting that they are well-equipped to overcome any challenge facing the country. Speaking at the 37th Annual Conference of the Organization of Professional Associations of Sri Lanka (OPA) at the Shangri-La Hotel, Colombo, The President highlighted the critical role of public support in ensuring the success of the government’s …
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Global Finance magazine has released the names of Central Bank Governors who earned the highest grades, “A+”, “A” or “A-”, in the Central Banker Report Cards 2024. The full Central Banker Report Cards 2024 grade list will appear in Global Finance’s October print and digital editions as well as online at GFMag.com. The Central Banker Report Cards, published annually by …
Continue ReadingState Minister for Investment Promotion, Dilum Amunugama, announced that Sri Lanka has secured an export income of USD 9 billion in the first six months of this year. He also highlighted that investment agreements totaling approximately USD 800 million have been signed during the same period. State Minister Amunugama shared this information at a press briefing titled “Two Years of …
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