VAT is an end user consumption tax, and therefore should not be applied to goods and services that are consumed outside of Sri Lanka. By introducing such a TVR scheme, Sri Lanka will be aligning itself with international best practices Mangala Samaraweera, Minister of Finance and Media said yesterday (11th).
A Sri Lankan Delegation led by Speaker Karu Jayasuriya has called on Indian Prime Minister Narendra Modi. The Indian Prime Minister and Speaker Jayasuriya had engaged in an extensive 45 minute bi-lateral discussions.
Sri Lanka has introduced a procedure for re-payment of 15% VAT to the foreign tourists on their departure, for the goods purchased by them during their stay in Sri Lanka which will be implemented with effect from Tuesday (11th), Finance Ministry says.
The Port of Colombo is ranked as world’s number one container growth port among the top 30 container ports for the first half of 2018.In container handling Port of Colombo has recorded a 15.6% growth for the first half of 2018 over same period last year according to Alphaliner Monthly 2018. It is also a very significant achievement as it is the first time in history the Port of Colombo reaches the top of a global maritime ranking. With this growth, Port of Colombo has leaped ahead many other Asian Ports, Major European Ports and Dubai as well.
It has been planned to implement a project to identify the landslide vulnerable areas and unstable slopes in the hilly areas to minimize the possible disastrous situations due to climatic changes resulting from extreme bad weather conditions.
In keeping with the government’s aim of developing Sri Lanka’s boat building industry as one of the six sectors of the economic drive, stakeholders are looking at a strategic approach to fuel its growth.“The boat building industry will receive support from Poland to develop the sector which is looking at production locations to set up manufacturing of small boats. Poland is the largest manufacturer of small boats for export and are considering other locations for this purpose. Sri Lanka is one of the potential locations for sub-contracting for small boat manufacture,” Advisor to Sri Lanka Boat Show 2018 Mike Derrett said.
Secretary to the Ministry of Defence, Mr. Kapila Waidyaratne, President's Counsel, who in Russia on an official visit met the Deputy Minister of Defence of the Russian Federation, Colonel General Alexander Fomin on Monday (03rd, September).
The High Commissioner of Sri Lanka to Pakistan Maj. General Jayanath C.P. Lokuketagodage on Thursday underlined the need to boost air and maritime linkages with Pakistan so that the cooperation in business and industry could be strengthened. Sri Lankan High Commissioner expressed his satisfaction over the increasing cooperation between both countries in different sectors when he met with the Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt, Pakistan's The News reported.
The Party Leaders of Parliament have proposed to schedule the presentation of ‘Budget-2019’ on November 8.The Party Leaders who met in Parliament yesterday discussed the tentative schedule for the Budget debate. It has been proposed to take up the debate from November 8 to December 8.
Chairman of CAA Anura Meddegoda, Minister of Industry and Commerce Rishad Bathiudeen, Head of Cooperation of the Delegation of the European Union Delegation in Sri Lanka Frank Hess, Secretary of Ministry of Telecommunication and Digital Infrastructure Chulananda Perera look on as visiting e-commerce expert from Geneva’s International Trade Centre Professor Michael Geist lights the ceremonial lamp at the launch of second e-commerce PPD in Colombo yesterday.