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• June 23, 2024
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President Ranil Wickremesinghe emphasized his commitment to revitalizing the country’s economy while highlighting transformative changes in the lives of farmers. The President made these remarks during the inauguration of a groundnut processing center in Karadiyanaru, which was constructed at a cost of Rs. 55 million under the agricultural modernization program of the Ministry of Agriculture. During the event held this …

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• June 20, 2024
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The Financial Intelligence Unit of Sri Lanka (FIU-Sri Lanka) entered into a Memorandum of Understanding (MOU) with the Financial Intelligence National Center of the Kingdom of Bahrain (FINC-Bahrain) on June 04, 2024, at the 30th Plenary of the Egmont Group, held in Paris, France, to exchange financial intelligence related to money laundering (ML) and associated predicate offences, and in relation …

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• June 19, 2024
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The Financial Intelligence Unit of Sri Lanka (FIU-Sri Lanka) entered into a Memorandum of Understanding (MOU) with the Financial Intelligence National Center of the Kingdom of Bahrain (FINC-Bahrain) on June 04, 2024, at the 30th Plenary of the Egmont Group, held in Paris, France, to exchange financial intelligence related to money laundering (ML) and associated predicate offences, and in relation …

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• June 19, 2024
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Purchasing Managers’ Indices indicate improvements in both Manufacturing and Services activities in May 2024. Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 58.2 in May 2024, indicating an expansion in manufacturing activities. All sub-indices, except for employment, rose above the neutral threshold during the month, resulting in an overall increase in the index …

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• June 19, 2024
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The Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MOU) with the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) to exchange information relating to investigations and prosecutions of money laundering, bribery or corruption, and other related offences. Mr. Chethiya Goonasekera, PC, Commissioner of the CIABOC and Mr. Kanishka Wijeratne, Director General of the …

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• June 18, 2024
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President Ranil Wickremesinghe delivering a special statement to Parliament today (18) said that the proposed Imputed Rental Income Tax will exempt a person’s first property. He emphasized that this tax is aimed at high net-income earners, not ordinary income earners, assuring that it will not affect those earning normal income. Raising a Point of Order under the Parliamentary Standing Orders, …

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• June 17, 2024
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PRESS RELEASEClarification on Imputed Rental Income Tax The recent publication of the International Monetary Fund (IMF) supported ExtendedFund Facility (EFF) programme related documents make reference to a proposedproperty tax to be implemented as an imputed rental income tax. The purpose of thispress release is to clarify certain speculations and misconceptions regarding the same. One of the key reasons for Sri …

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• June 17, 2024
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State Minister for Social Empowerment, Anupa Pasqual, stated that meaningful change in the country can only be achieved through effective policies, rather than focusing on individuals or political parties. He emphasized that President Ranil Wickremesinghe has already successfully implemented the necessary programs for the country’s economic progress. The State Minister also mentioned that the President has approved a 50% subsidy …

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• June 17, 2024
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President Ranil Wickremesinghe emphasized that the future of Sri Lanka will be determined by the economic policies implemented over the next five years. The President delivered this statement while addressing the youth and business community in Mannar during his participation in the “Youth Conference” held yesterday (16). The President initially attended the Mannar District “Youth Conference” yesterday (16) at the …

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• June 15, 2024
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vacant properties by 2025 IMF, in its latest report on Sri Lanka has proposed an imputed rental income tax from owner-occupied and vacant residential property to be introduced by April 1, 2025, with an exemption threshold and a graduated tax rate schedule. The Asset Recovery Bill, after much-needed public consultation, should be enacted by November 2024. The report says the …