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After the increase in VAT from January 01, 2024, the overall construction expenses have increased by 20%, Chairman of the National Construction Association of Sri Lanka M.D. Paul said.The post Construction expenses in Sri Lanka rise by 20% after VAT hike appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Sri Lanka 2023: Bouquets & Brickbats appeared first on Colombo Telegraph.
President Ranil Wickremesinghe today defended the revision of the Value Added Tax (VAT) which has already resulted in an increase in the price of gas and fuel. The President said that the Government’s commitment to a comprehensive program aimed at strengthening the country’s economy remains unwavering. “Contemplating the economic hardships confronting Lebanon, where an economic […...
Fuel prices in Sri Lanka have been revised with effect from midnight on December 31, 2023.The post Sri Lanka revises fuel prices from December 31, 2023 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka’s inflation rose to 4.0 percent in December, the third consecutive monthly rise as the cash-strapped nation was set to increase taxes from the New Year.The benchmark Colombo Consumer Price Index jumped by 1.7 points to reach 195.1, or a 4.0 percent increase compared to a year ago when inflation was 57.2 percent. The […]
Education of about 54.9 percent of Sri Lankan students has been affected by the economic crisis since March 2022, the latest Household Survey on Impact of Economic Crisis – 2023 by the Department of Census and Statistics reveals. Out of the respondents surveyed 93.5 percent have adopted
Fuel and Gas will be exempted from the Port and Airport Levy when imposing the Value Added Tax (VAT) from January 01, 2024, Tax Advisor of the Ministry of Finance, Thanuja Perera said today (December 28).The post Sri Lanka to remove 7.5% Port and Airport tax from Fuel & Gas but add 18% VAT appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The Middle East conflagration has been brought very close to South Asia by a suspected drone attack a couple of days back on an Israel-linked chemical tanker headed for India, off the latter’s coast. The attack comes close on the heels of similar reported strikes on international tankers in the Red Sea, which have compelled […]
[An article based on the Keynote Address delivered by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, recently at the Annual Research Symposium 2023 of the University of Colombo] Introduction Inflation affects every aspect of our lives; it is a force that shapes our purchasing power, influences our financial decisions, and […]
Sri Lanka President Ranil Wickremesinghe has urged all political leaders to exhibit responsibility in their approach to the International Monetary Fund (IMF) program.The post Sri Lanka President calls for proposals from opponents of IMF program to rescue country from financial crisis appeared
By MEERA SRINIVASAN As Sri Lanka tries to rebuild its battered economy after last year’s devastating crisis, the country’s political scene is gradually heating up, in the run up to two national elections scheduled next year — parliamentary and presidential — that will give citizens
By Shamindra Ferdinando Chairman of the Committee on Ways and Means Patali Champika Ranawaka on Tuesday (12) alleged that the Finance Ministry had allowed the operation of a distillery in spite of that company failing to pay taxes. The former minister said that the country lost millions for want of political will to recover what that company owed […]
How come royalty on foreign players replaced with additional Rs 50 charge on a litre of fuel? by Shamindra Ferdinando Convenor of the Samagi Joint Trade Union Alliance Ananda Palitha yesterday (12) said that the Wickremesinghe-Rajapaksa government was planning to impose VAT on fuel already subjected to several taxes amounting to Rs 75, an extremely […]
[…]The post Israel & Sri Lanka: UN’s Strikingly Different Approaches appeared first on Colombo Telegraph.
What has been widely described as the “historic” Supreme Court judgment which by a majority 4-1 decision of a five-judge bench held the Rajapaksa brothers, Mahinda, Gotabaya and Basil and other unelected officials including two past Governors of the Central Bank, a former Secretary to the President, a former Treasury Secretary and some members of […]
Fuel prices in Sri Lanka have been revised with effect from midnight on November 30, 2023.The post Sri Lanka revises fuel prices from November 30, 2023 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
World leaders, government representatives and delegates are set to gather for the annual United Nations climate change summit, known as the Conference of the Parties or COP28 in Dubai, the United Arab Emirates (UAE). Reining in fossil fuels and carbon emissions are expected to be topping the agenda of the 13-day summit (November 30 to […]
[…]The post SC Judgment, Fiscal Philosophy, & Long-Term Decisions For A Brighter Future appeared first on Colombo Telegraph.
Monday 27th November, 2023 The SJB has commenced collecting signatures for a public petition as part of a campaign to have those who are responsible for the current economic crisis stripped of their civic rights. Given public resentment, which is palpable, the SJB may be able to obtain hundreds
Sri Lanka will likely approve on Monday a proposal from Chinese state refiner Sinopec to build a $4.5-billion-dollar refinery, the South Asian island nation’s energy minister said on Saturday. “It’s on the agenda for Monday. Once the cabinet gives approval, we will invite them to sign the agreement,” Power and Energy Minister Kanchana Wijesekera told […]
Sri Lanka will likely approve on Monday a proposal from Chinese state refiner Sinopec to build a $4.5-billion-dollar refinery, the South Asian island nation's energy minister said on Saturday.The post Sri Lanka to OK Sinopec’s $4.5 billion refinery proposal on Monday – minister appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Israel – Most Condemned UN Member appeared first on Colombo Telegraph.
RM Parks Inc, a leading petroleum products distributor in the United States signed an agreement with the Board of Investment (BOI) for U$ 110 million to bring Shell products to Sri Lanka.The post RM Parks signs $110 million petroleum agreement with Sri Lanka appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post Regain A Vision Of Rhe Common Good appeared first on Colombo Telegraph.
Budget 2024 is like a fairy tale rather than a pragmatic solution to pressing economic issues, SLPP MP Dr. Nalaka Godahewa has said. Taking part in the current budget debate, former State Minister said: “Two paramount challenges loom large—the persistent economic contraction and the escalating national debt. A practical budget should provide answers to these […]
[…]The post Still, The Mirage appeared first on Colombo Telegraph.
Sri Lanka’s central bank chief said the government has shared the terms of a $4.2 billion China debt deal with other creditors a key sticking point with countries like India paving the way for more loans from the International Monetary Fund.The post Sri Lanka gives China deal details, keeping IMF aid on track appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By Uditha Devapriya Interactions are about connections. Connections are not always about commonalities. After all, it is not just commonalities that are celebrated, it is also differences. There are many ways of celebrating differences, many ways of affirming them. The Interact Movement in Sri Lanka is now almost 60 years old. The Interact Club of […]
[…]The post If It Is Not ‘Genocide’ In Gaza, Then What Should We Call It? appeared first on Colombo Telegraph.
[…]The post Postponing Elections & Inviting The Dragon: Sri Lankan President’s China Tilt appeared first on Colombo Telegraph.