By Yusuf Ariff Courtesy Adaderana Former President Mahinda Rajapaksa says that the policy on which the proposed new Inland Revenue law is based, is in keeping with the ideology of the UNP but is contrary to that of the SLFP. Issuing a statement today (21), he said that no member of the SLFP can pass legislation that […]

by Maheesha Mudugamuwa Courtesy The Island The cash-strapped government was planning to sell the southern expressway, the Colombo Outer Circular expressway and Colombo-Katunayake expressway to China for USD 600 million, Pivithuru Hela Urumaya (PHU) leader MP Udaya Gammanpila alleged yesterday. He told The Island that the three vital roads would be initially handed over to an […]

by Ulrika Lomas, Tax-News.com, Brussels 16 August 2017 Sri Lanka is planning to revamp its tax system to reverse a steady erosion of its tax base over the past two decades, the International Monetary Fund (IMF) has said. The country is planning to submit a new Inland Revenue Act to parliament, which would broaden the […]

lanka C news පසුගිය දා සම්මුති ආණ්ඩුව විසින් චීනයට විකුණූ හම්බන්තොට වරාය මහින්ද රාජපක්ෂ ආණ්ඩුවක් යටතේ නැවත පවරාගෙන එය ජනතාව සතු කරන බව හිටපු ආර්ථික සංවර්ධන අමාත්‍ය බැසිල් රාජපක්ෂ මහතා පැවසිය. එමෙන්ම මේ සතියේ ඉරිදා ලංකාදීප සමඟ සම්මුඛ සාකච්ඡාවකට සහභාගි වෙමින් වත්මන් ආණ්ඩුවේ අධිකරණ හා බුද්ධශාසන අමාත්‍ය ආචාර්ය විජේදාස රාජපක්ෂ මහතා ද ඒ ප්‍රකාශය සනාථ […]

– ප‍්‍රදීප් අනුර කුමාර  lanka C news හම්බන්තොට වරාය ඇතුළු ජාතික සම්පත් විකුණා දැමීමට සිදුව ඇත්තේ ඒවා පවත්වාගෙන යා නොහැකි නිසා නොව ආණ්ඩුවට වැඩ බැරි නිසා බව පාර්ලිමේන්තු මන්ත්‍රී බන්දුල ගුණවර්ධන මහතා ප්‍රකාශ කළේය. වරාය පමණක් නොව මත්තල ගුවන් තොට, ඩී. ආර්. විජයවර්ධන මාවතේ ඇති ඉඩම්, නුවරඑළිය වැනි ඵෙතිහාසික වටිනාකමකින් යුත් තැපැල් කන්තෝරු පවා විකිණීමට […]

by Elmo de Silva Courtesy The Island August 5, 2017, 6:35 pm I retired from the S.L.A.S after serving in several Departments, Ministries and in several districts. I served in the World Customs Organization (W.C.O ) in Brussels , Belgium for five years, promoting an International Convention on the Simplification and Harmonization of Customs Procedures. After […]

The public is not plagued by debt but by fraud – Mahinda (English)

Courtesy The New Indian Express Aug 06 (NIE) TIRUCHY/NAGAPATTINAM- Bullets have failed to stop them, but a new bill adopted by the Sri Lankan parliament could. After going through phases of conflict and relative peace, the troubled life of fishermen from Tamil Nadu has entered new waters, thanks to the Sri Lankan Fisheries and the […]

BY RAVI LADDUWAHETTY Courtesy Ceylon Today Former President Mahinda Rajapaksa,in a special interview with Ceylon Today Sunday Edition, alleged that the Unity Government has accepted the bid from China Merchant Port Holdings Ltd, been accepted in a backdrop where the other company China Harbour Co. Ltd which had submitted the bid in a much more favourable […]

Norwegian expert submits interim report on Uma Oya Project

By Dr. Ranil Senanayake August 3, 2017, 9:42 pm The two quotes above are from Thomas Jefferson, who was an American Founding Father and principal author of the Declaration of Independence; he later served as the third President of United States. It illustrates with the shameful actions of the corrupt and hypocritical politicians who act as they […]

By: Amitendu Palit Courtesy  Financial Express The Country is hobbled by the fear that trade agreements will mean much greater access for trade partners to its market than it will get to theirs in the bargain. The South Asian region’s struggle to reconcile benefits of a progressive trade policy with the arguably detrimental effects that such a […]

by C.A.Chandraprema  Courtesy The Island July 29, 2017, 7:13 pm The signing of the Agreement with China Merchant Co to lease out the Hambantota port for 99 years went ahead on Saturday as scheduled. This announcement took place in the context of rumours that were swirling around that India had brought pressure on Sri Lanka to […]

ශ්‍රී ලංකා වරාය අධිකාරියේ ඉංජිනේරු සහ විධායක නිලධාරී සංගමය ණය ගෙවන්න වරාය විකිණීමේ බොරුව සහ ඇත්ත යථාර්තය..!!! 2016 වසරේ ශ්‍රී ලංකා වරාය අධිකාරිය උපයන සමස්ථ ආදායම රුපියල් බිලියන 44 කි.. ඒ ආදායමෙන් මෙහෙයුම් වියදම්, පරිපාලන වියදම්, ”ණය පොලිය” සහ වෙනත් වියදම් අඩු කිරීමෙන් පසුව පසුගිය 2016 වසරේ ශ්‍රී ලංකා වරාය අධිකාරියේ ශුද්ධ ලාභය රුපියල් බිලියන […]

Shihar Aneez Courtesy  Reuters COLOMBO (Reuters) – Sri Lanka’s new tax bill, demanded by the IMF as a condition for a third tranche of aid disbursed this week, will seek to ensure that all citizens pay direct taxes and cut indirect taxes, top finance ministry officials said on Friday. The new Inland Revenue Act, the island […]

By Ayshwarya Yapa Courtesy Adaderana Joint Opposition’s Parliamentarian Bandula Gunawardana stated that the third tranche of the International Monetary Fund’s (IMF) loan was granted to Sri Lanka as a result of the National Inland Revenue Act which was presented to the Parliament. He stated this at a press conference of the Joint Opposition today (19). Gunawardana further […]

Courtesy The Straits Times Both Singapore and Sri Lanka are committed to concluding negotiations on a free trade agreement before the end of the year, Foreign Minister Vivian Balakrishnan said in Colombo yesterday. “It will be a modern, comprehensive, high-quality, ambitious free trade agreement. It will demonstrate to the world that both of us are […]

Courtesy Reuters COLOMBO, July 18 (Reuters) – Sri Lankan shares closed lower on Tuesday, marking their fifth session of decline in six, although foreign investors continued to buy stocks. Domestic investors were concerned about a possible increase in interest rate, analysts said, after the International Monetary Fund said further monetary policy tightening in Sri Lanka […]

Courtesy reuters.com Further monetary tightening is desirable – IMF IMF completes delayed second review of $1.5 bln loan Sri Lanka awaits $167.2 mln third tranche of loan New Inland Revenue Act will support fiscal consolidation – IMF COLOMBO, July 18 (Reuters) – The International Monetary Fund said on Tuesday that further monetary policy tightening in Sri […]

IMF July 17, 2017 IMF Executive Board completed the second review of Sri Lanka’s Extended Fund Facility (EFF) arrangement, which enables the disbursement of about US$ 167.2 million. The new Inland Revenue Act will support fiscal consolidation, make the tax system more efficient and equitable, and generate resources for social and development programs. Further accumulating […]

World Bank STORY HIGHLIGHTS Sri Lanka’s performance in 2016 was broadly satisfactory and saw several highlights including the passing of a Right to Information Act. For Sri Lanka to sustain growth and create jobs in the medium term it will need to shift its growth model towards one more focused on private investment and tradable […]

By Niranjala Ariyawansha Courtesy Ceylon Today The Auditor General’s Department is set to reject the 2016 Annual Report of the Ministry of Finance, reliable sources told Ceylon Today. They added that the 2016 annual report of the Ministry of Finance was a balance sheet which had nominal and false figures in terms of debit and credit. […]

By Niranjala Ariyawansha Courtesy Ceylon Today The World Bank (WB) has warned the government that the US$ 100 million loan facility in the pipeline for release in September will be suspended unless the Audit Bill is tabled without further delay in Parliament and approved by it. Well-informed sources told this paper that this had come up […]

BY KAMAL MAHENDRE WEERARATNE Courtesy Ceylon Today The Presidential Commission inquiring into the Central Bank Bond issue, which took place during the tenure of former Governor Arjuna Mahendran, issued special orders yesterday (13) to the incumbent CBSL Governor and the Auditor General. The Auditor General was ordered to conduct a fresh audit query on the controversial […]

Capt Ranjith Weerasinghe  Trincomalee Tank farm with 100 tanks in 850 acres of land need not be given to any country or any foreign company. Whatever the agreement with LIOC, all the tanks must be taken back to the government possession immediately as the COPE finds that there is no legal agreement signed to lease […]

By Niranjala Ariyawansha Courtesy Ceylon Today Last week the government decided to import 300,000 metric tons of rice saying there is a shortage in requirement until September. However, the All Ceylon Farmers’ Federation (ACFF) refuted the government claim saying that 200,000 metric tons of rice that is needed for local requirement for the current year is […]

Courtesy The Island May 27, 2017, 7:19 pm Sri Lanka’s high-end luxury apartment developments may already be in trouble, according to at least two developers responding the Central Bank’s concern over a property bubble that could potentially undermine the entire economy. The private Iconic Developments, an apartment builder, said it was aware of at least […]

ආචාර්ය නාලක ගොඩහේවා පසුගියදා රූපවාහිනී නාලිකාවක පැවති දේශපාලන වාදයකදි, හම්බන්තොට පාර්ලිමේන්තු මන්ත්‍රී නාමල් රාජපක්ෂ එක්සත් ජාතික පක්ෂයේ ආචාර්ය හර්ෂද සිල්වා මහතාගෙන් ඉතා කාලෝචිත ප්‍රශ්නයක් ඇසුවේය. ඒ 2016 මහ බැංකු වාර්තාවේ සඳහන් වන රැකියා ආශ්‍රිත සංඛ්‍යාලේඛන වන නිරවද්‍යතාවය පිළිබඳවය. ප්‍රශ්ණය නිසා අන්දමන්ද වූ නියෝජ්‍ය ඇමති වරයා තම දුරකථනය ඔස්සේ මහබැංකු වාර්ථා පිරික්සා පැවසුවේ 2015 හා 2016 […]

by Sanath Nanayakkare Courtesy The Island Migrant worker remittances have mainly contributed to the surplus in the nation’s secondary income account which is earned by unskilled and housemaid categories, the Central Bank’s Annual Report 2016 reveals. CBSL Annual Report further notes that the surplus in the secondary income account mainly backed by these worker remittances have […]

 Courtesy The Daily Mirror The latest Central Bank (CB) report for the year 2016 clearly indicates that current economic crisis was not a result of the action of former President Mahinda Rajapaksa or his government, the Joint opposition claimed yesterday. Addressing a press briefing, MP Bandula Gunawardane said nearly two and half years has passed […]