Lankapage Logo CP 18 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Inland Revenue Act passed in parliament with a majority vote
Thu, Sep 7, 2017, 08:00 pm SL Time, ColomboPage News Desk, Sri Lanka.

Sept 07, Colombo: Sri Lanka Parliament today passed the new Inland Revenue bill with a majority with amendments. When the division was taken, 90 voted in favor and 25 against.

The Draft Bill of the Inland Revenue Act was presented for the first time in July, and after the second reading debate today, the Third Reading Committee meeting was also concluded.

The Minister of Finance Mangala Samaraweera earlier said the main objective of the new Inland Revenue Act is to simplify the tax system in order to create an investor friendly environment that will attract more foreign direct investments.

The Act will reduce the indirect taxes levied from the people from 80% to 60% and increase the direct taxes from 20% to 40% within three years.

 

ColomboPage - Recent 10 Stories ::
Sri Lanka PM encourages entrepreneurs in North with tax concessions to uplift local economy
-- [4 minutes ago]
Sri Lanka confirms appointment of former Secretary to the President Austin Fernando as envoy to India
-- [1 hour and 8 minutes ago]
Sri Lanka plans to settle Iran oil dues with tea - report
-- [1 hour and 42 minutes ago]
Deputy Minister takes wasting fruits and vegetables to elephants at detention center
-- [9 hours ago]
Two school girls drown in sea in Kalutara
-- [9 hours ago]
Sri Lanka Railways workers to strike from midnight Sunday
Sri Lankan government confirms two new diplomatic posts
Sri Lanka takes steps to develop adventure tourism
CMC, tri forces launch special project to clean the Beira Lake in Sri Lankan capital
Sri Lanka's first solar panel manufacturing plant with Japanese investment opens in Katunayake

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.