Development and Economic News

The government has started the acquisition of lands, most of which are privately owned, for the Adani-backed 250MW Mannar Wind Power Project (MWPP), its final environment impact assessment (EIA) report states.

The Hambantota International Port (HIP) witnessed a phenomenal year in 2023, with oil and gas vessel calls increasing 132% compared to 2022.

Sri Lanka’s Services exports recorded a new high in 2023 with a strong rebound whilst shipment of goods lagged amidst challenges as per provisional data released by the export development board yesterday.

Wednesday, 31 January 2024 11:01

WHT and PAYE had the largest growth in Q3 2023

The Fiscal Management Report 2024, recently released by the Ministry of Finance, offers a comprehensive analysis of the government's revenue streams.

Sri Lanka's tax revenue increased significantly by 56% to 2,512 billion rupees in the 11 months leading up to November. Total revenues also rose to 2,758 billion rupees, finance ministry data shows. .

The passenger ferry service between India’s Nagapattinam and Kankesanthurai (KKS) in Jaffna will be initiated on February 15, the Ports, Shipping and Aviation Minister said.

Up for sale, Litro Gas Company yesterday contributed Rs. 1.5 billion from its profits for 2023 to the Treasury.

Thailand’s Deputy Prime Minister Phumtham Wechayachai and Sri Lanka’s Trade Minister Nalin Fernando will sign the free trade agreement between the two countries on February 3 in Colombo.

The issuing of the Taxpayer Identification Number (TIN) has not been interrupted or stopped, but necessary steps are being taken to prevent the obstacles and provide necessary facilities to the Inland Revenue Department (IRD), Finance State Minister Ranjith Siambalapitiya said.

Sri Lankan authorities have officially taken a decision for the establishment of a gaming regulatory authority in the wake of ever increasing tax evasion by a handful of local casino owners, finance ministry sources disclosed.

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