The real interest rate in Sri Lanka increased by 0.1 percentage points (+1.44 percent) in 2019. Therefore, the real interest rate in Sri Lanka reached a peak in 2019 with 7.1 percent. Nevertheless, the last two years recorded a significantly lower real interest rate than the preceding years....
Sri Lanka’s Finance Ministry has decided to impose a 100% surcharge rate on both General and Preferential Custom Duty of multiple products with effect from Wednesday (June 01). Imports and Exports Control Regulations on 369 items that could not be imported with...
Wijesinha (2012b), Tax reforms in Sri Lanka: will a tax on public servants improve progressivity? Partnership for Economic Policy.Arunatilake, N., P. Jayawardena, A. Wijesinghe, N. Perera, 2011, "Tax Reforms in Sri Lanka, Will a Tax on Public Servants Improve Progressivity", Institute of...
Withholding tax in Sri Lanka is therefore passively contributes in nation’s economic and social developments. The country with its robust economy has seen a growth at 3.7% in 2019. It strives to make the transition to an upper middle-class income nation. The country focuses on long-term ...
The proposed FTA went into trouble when Sri Lanka had disagreement over timing of zero tariffs from the Chinese side, percentage of tariff line, and review time period. Sri Lanka wanted a list of about 500 tariff lines to go to zero on the day the agreement comes into force, ...
a) Income Tax Income tax is based on the residency rule and charged in accordance with the Inland Revenue Act No. 10 of 2006, as amended (“IRA”) at specified rates for every year of assessment on profits and income: · wherever arising of a person resident in Sri Lanka; and ...
Sri Lanka’s economy boasts a thriving export sector, and establishing a strong presence in key markets like the UK can significantly enhance business growth. According to the UK’s Department for Business & Trade, exports from Sri Lanka to the UK totalled GBP 1 billion across...
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Sri Lanka’s sovereign dollar-denominated bonds saw gains of a percentage point, while hard currency bonds saw distress prices of under 40 cents to the dollar. Governor Weerasinghe said the call on repayment was being taken in good faith, emphasizing that the country of 22 million people had ...
Sri Lanka President Ranil Wickremesinghe while presenting his Policy Statement in Parliament today (February 07), says the government was planning to reduce the tax burden as economic reforms continue to stabilize the economy. The President made this statement at the inauguration of the 5th session...