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Wednesday, 20 June 2018 06:42

Mangala revises health sector tax

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  • Cabinet approves removal of 15% VAT on doctors’ consultation fee, channeling fee and professional charges from 1 July; no change in VAT on private hospital room charges
  • Tax revisions to be presented in Parliament this month 
  • Finance Ministry to increase Rs. 35,000 DAT allowance given to Govt. doctors 
  • Despite Rs. 1.2 b revenue loss Mangala confident of achieving Rs. 30 b target
  • Says 69,000 new tax files opened during the past two months, Rs. 5 b month-on-month income tax increase in May
  • Govt. collects Rs. 775 b total revenue in first five months, 5% increase compared to same period in 2017
  • Total taxes collected by IRD from 1 January to 13 June amounts to Rs. 276.7 b, an 8% y-o- y rise 
Wednesday, 20 June 2018 06:41

New grade of petrol to be introduced

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  • Likely to be 87 Octane Petrol 
  • Suitable for small vehicles 
  • Refining to be conducted by Sapugaskanda refinery
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Veteran aviator Capt. Milinda Ratnayake has been appointed the Vice Chairman of the Airport Authority. 

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  • As global FDI levels decline developing countries have to match FTAs with local industry and agri policy for growth 
  • Digital economy posing structural challenges to developing countries looking for FDI 
  • Commerce DG says liberalisation alone insufficient for structural change, Govt. needs to focus on industrial policy  
Tuesday, 19 June 2018 06:46

SL grows by 3.2% in 1Q

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Sri Lanka grew by 3.2% year on year in the first quarter of 2018, slowing marginally from 3.5% expansion seen in the fourth quarter of 2017, the Census and Statistics Department said yesterday.

Tuesday, 19 June 2018 06:44

Tourism told to plug talent shortage

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As professional bodies call on the Government to limit worker migration, the tourism industry’s regulator yesterday warned it is facing increasing pressure to issue additional work visas for hospitality experts to work at international hotel chains and called for more professionals to be trained. 

Tuesday, 19 June 2018 06:33

Stocks extend losses, hit 14-month low

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Reuters: Sri Lankan shares fell for an eighth consecutive session yesterday to their lowest close in more than a year, as foreign investors sold shares, with block deals boosting the day’s turnover.

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The Auditor General’s (AG) Department is carrying out evaluations of Sri Lanka’s diplomatic missions to ascertain expenditures of embassies and their services, as part of its efforts to assess each Government sector. 

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Fintek Managed Solutions (Pvt) Ltd, a fully incorporated subsidiary of Gestetner of Ceylon PLC, has been appointed the authorized distributor for Sharp Office Automation products and solutions in Sri Lanka. Fintek complements Gestetner’s role as a market leader in Sri Lanka’s office automation space, and will introduce other business lines in the near future.

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The Government has decided that the Secretaries to Ministries, Heads of Departments, Chairpersons, executive officers and Accountants of Government Institutions should take the responsibility of paying salaries to redundant workers they have employed in addition to the approved Cadre.

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