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  • National Budget 2024: A Framework for National Development – Pragmatic Implementation and Timely Execution Will be Key – Ceylon Chamber

National Budget 2024: A Framework for National Development – Pragmatic Implementation and Timely Execution Will be Key – Ceylon Chamber

The Ceylon Chamber of Commerce considers the 2024 Budget as a crucial step in continuingthe macroeconomic stabilization measures that began in late 2022, as a response to theeconomic challenges faced…

COPF Clears New Tax Measures aimed at Closing Tax Loopholes existed Soap Production Import Materials

The Committee on Public Finance (COPF) convened last week to address critical matters pertaining to the importation of ‘soap noodles’ for soap production and to consider the Order under the…

COPF raps Finance Ministry over its failure in recovering the loss incurred by the Sugar Tax Scam

The Committee on Public Finance (COPOF) questioned the officials representing the Ministry of Finance regarding the action taken to recover the loss incurred by the Sugar Tax Scam in Sri…

Corporate Earnings See First Downturn Since 2020 Amidst Economic Crisis

December (2022) quarter earnings declined by 43.9%YoY to Rs.96.4 billion for 281 listed companies on Colombo Stock Exchange (CSE) owing to sluggish performance primarily in the Capital Goods (-82.6%YoY), Transportation…

COPA Pushes for proper implementation of the Revenue Administration Management Information System (RAMIS) at IRD

Several new proposals were proposed by the Committee on Public Accounts (COPA) to make the work of the Inland Revenue Department more efficient including proper implementation of the Revenue Administration…

Inland Revenue (Amendment) Act comes into force from today

Speaker Mahinda Yapa Abeywardena today (19) endorsed the certificate on the Inland Revenue (Amendment) Bill which was passed by a majority of votes after debate in Parliament. Following the debate…

Sri Lanka lost a large chunk of its tax base due to changes made in tax system in 2020

Sri Lanka has lost a large chunk of its tax base due to significant changes in its tax system made in 2020 including the increase in VAT registration threshold on…

Sri Lanka Secures Initial IMF Approval for $2.9 B Bailout Package

An International Monetary Fund (IMF) mission led by Peter Breuer and Masahiro Nozaki visited Colombo from August 24 to September 1, 2022, to continue discussions on IMF support for Sri…

Ceylon Chamber calls on the government to focus on the Implementation of Progressive Proposals in the Interim budget of 2022

The Ceylon Chamber of Commerce views the interim budget for 2022 delivered by President RanilWickremesinghe in his capacity as Minister of Finance, as a positive step towards rebuilding themacroeconomic framework…

UN Secretary-General Calls Governments to tax ‘Immoral’ Profits of Oil and Gas Companies

As the war in Ukraine continues to rage, skyrocketing energy prices are compounding an existential cost-of-living crisis for hundreds of millions of people, warned the UN Secretary-General’s Global Crisis Response Group (GCRG)…