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  • Ceylon Chamber Pleads Government to Reconsider the Surcharge Tax Bill

Ceylon Chamber Pleads Government to Reconsider the Surcharge Tax Bill

The membership of the Ceylon Chamber of Commerce notes serious concerns on the provisions of the Surcharge Tax Bill that has been gazetted recently to implement the budget proposal on…

Dialog Axiata to Incur Rs.3-4 Billion under the proposed one-off “Surcharge Tax”

Sri Lanka’s Dialog Axiata PLC, a subsidiary of Malaysia’s Axiata Group Berhad expects to incur Rs.3-4 billion payment for the proposed one-off “Surcharge Tax” to be levied on large companies.…

International and Local Experts Stress the Need For Bold And Radical Reforms for Sri Lanka this year

International and local economic experts and corporate leaders stressed the need for a concrete, long-term and bold reform agenda for the economy as the country braces for a critical year…

Gem Dealers in Sri Lanka Welcomes Govt Moves on Ease of Doing Business in Budget 2022

The Largest Association of Gem Dealers in Sri Lanka, the Chinafort Gem and Jewellery Traders Association welcomes the Government’s initiatives to promote Ease of Doing Business measures in the Gem…

Expolanka Survives from 25% surcharge tax proposed in budget 2022

Sri Lanka’s second-largest listed firm, Expolanka Holding PLC will not be subjected to a one-off 25% surcharge tax proposed in budget 2022 given the company’s earnings heavily skewed its overseas…

Sri Lanka’s 2021 fiscal deficit forecast revised to 2020 levels; Aim to curtail fiscal deficit to 8.8% of GDP in 2022

Sri Lanka’s government has revised the fiscal deficit projection to 11.1 percent of GDP in 2021 from the original 8.9 percent target with large shortfalls in income tax, Customs Import…

25% one-time income tax on 62 individuals and companies with over Rs. 2 billion turnover proposed in the budget 2022

Sri Lanka’s Government proposed to impose a one-time surcharge tax of 25 percent on 62 individuals and companies with an annual turnover of more than Rs. 2 billion in the…

Lack of Budget Credibility a Significant Challenge to the 2022 Budget With Intensification of the “Closed” Culture, Says Verité Research

Verité Research’s BudgetPromises dashboard on the PublicFinance.lk platform sheds light on two questions aboutSri Lanka’s budget: “is the Government doing what it is saying?” and “is the Government saying whatit…

International community strikes a ground-breaking global minimum corporate tax rate sans Sri Lanka and three others

Major reform of the international tax system finalised yesterday at the OECD will ensure that Multinational Enterprises (MNEs) will be subject to a minimum 15% tax rate from 2023. The…

Sri Lanka food crisis: Forex dips to risky levels. Can Colombo avoid IMF?

Sri Lanka is experiencing acute food emergency. Long food queues are seen even in Colombo neighbourhoods amid tight lockdown measures. Shelves at government-run supermarkets are running low – some even…