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Eran slams SLPP over move to impose 25% tax on EPF profits
The government has decided in an unprecedented manner to impose a 25% surcharge on the income of the Employees’ Provident Fund (EPF), which has never been taxed in the history of Sri Lanka, and the Opposition is totally opposed to the new tax, says MP Eran Wickremaratne at a press conference held at the Opposition Leader’s Office early this week.
Wickremaratne said that about 1.8 million members of the fund spent what they received as benefits on their family needs after retirement. Mostly employees deposit that money in a bank account and depend on its interest to meet their needs in the evening of their lives. The Yahapalana government decided to pay a maximum of 15% interest on the money in the accounts of these senior citizens with the intention of providing relief to those who have served the country.
Wickramaratne said that the Opposition opposed subjecting the EPF to such a super gain tax of 25 %. “This government seems to be raising issues that the country does not have in the face of crises it faces. During the 2019 Presidential election there was a campaign in the country that there was a bond scam. A Presidential Commission of Inquiry was also appointed for that purpose. The Presidential Bond Commission had recommended that the bond issue should be further investigated effective from 2002.
“Accordingly, the Monetary Board of the Central Bank has decided to conduct a Forensic Audit investigation with foreign experts on the subject. Five-reports were released two years later, on 07 November, 2019, just days before the 2019 presidential election. Within a week of the release of these reports a new President was elected to office and the Good Governance Government was unable to implement its recommendations.
It has been two years since President Gotabaya Rajapaksa was elected, but he did nothing to take action against the culprits mentioned in the forensic report. The government not only did not initiate investigations but also has put it under the carpet enabling it to avoid taking action against the accused on those reports.
The forensic reports state that the irregularities in EPF fund should be carefully investigated. The second volume of the report explains how the EPF money was invested in bonds and the stock market. It has been found that out of the 142 investments made using Rs. 46.95 billion of EPF money, prior approval has not been obtained for 98 investments. There is a committee to approve such investments and it is illegal to make such investments without the approval of that committee.
“All discussions on transactions made by the Central Bank will be recorded. Though the investigators wanted 1163 such recordings related to this provident fund investment for inspections, only 265 recordings have been submitted. Mr. Wickremaratne pointed out that this proves how the authorities have acted to cover up the theft of transactions.
“Furthermore, EPF has been paid a lower interest rate than the average market value. Investments have also been made in companies that are not in the stock market contravening the regulations that covers the EPF. Rs. 500 million has been provided to SriLankan Airlines. This investment from the employees’ money was made in 2010 before the approval of the relevant investment committee and this was a complete loss to the EPF as there was no return on this investment.
“When the forensic auditors asked the then Governor of the CBSL Ajith Nivard Cabraal to answer a questionnaire on bonds and stock market investments made at a loss to the EPF, the then Governor Cabraal avoided any response and has not responded to a request even for a meeting”, he said.
Wickremaratne accused the present government of protecting the Bond scammers by hiding the five forensic reports on the Bond scam under the carpet.
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Landslide Early Warnings issued to the districts of Colombo, Gampaha, Kalutara, Kegalle, Nuwara Eliya and Ratnapura
The National Building Research Organisation [NBRO] has issued landslide early warnings to the Districts of Colombo, Gampaha, Kalutara, Kegalle, Nuwara Eliya and Ratnapura valid from 09:00 hrs on 23.05.2026 to 09:00 hrs on 24.05.2026
Accordingly,
LEVEL III [RED] landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Deraniyagala, Ruwanwella and Dehiowita in the Kegalle district and Ratnapura, Ayagama, Kuruwita and Eheliyagoda in the Ratnapura district.
LEVEL II [AMBER] landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Seethawaka and Padukka in the Colombo district, Attanagalla in the Gampaha district, Palindanuwara, Ingiriya, Bulathsinhala and Horana in the Kalutara district, Yatiyanthota in the Kegalle district and Pelmadulla, Kiriella, Kalawana, Nivithigala and Elapatha in the Ratnapura district.
LEVEL I [YELLOW] landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Divulapitiya and Mirigama in the Gampaha district, Mathugama and Agalawatta in the Kalutara district, Bulathkohupitiya in the Kegalle district, and Ambagamuwa in the Nuwara Eliya district.
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Most people seeking green cards must now apply from outside US
The US has announced a new policy that means most immigrants seeking a green card will have to leave the country and apply at an embassy or consulate abroad.
The US Citizenship and Immigration Services (USCIS) said on Friday that people seeking a change in status must do so through consular processing outside of the country “except in extraordinary circumstances”.
The move – a part of the Trump administration’s effort to curtail illegal immigration – closes a loophole that had allowed visa holders and visitors to apply for a green card while still in the US.
Critics of the policy say the longstanding system allowed families to stay together during the lengthy application process.
The new method could also make it difficult or impossible for some immigrants who leave the country in hopes of gaining a green card to return.
The USCIS policy memo states that people such as students, temporary workers or people on tourist visas need to go through the Department of State from outside of the US.
“When aliens apply from their home country, it reduces the need to find and remove those who decide to slip into the shadows and remain in the US illegally after being denied residency,” USCIS said, making the system “fairer and more efficient”.
On X, the Department of Homeland Security, which oversees USCIS, said: “The era of abusing our nation’s immigration system is over.”
“We’re returning to the original intent of the law to ensure aliens navigate our nation’s immigration system properly,” USCIS Spokesman Zach Kahler said.
“From now on, an alien who is in the US temporarily and wants a green card must return to their home country to apply, except in extraordinary circumstances,” he continued.
Kahler said the policy allows the immigration system “to function as the law intended instead of incentivising loopholes” and that visits “should not function as the first step in the green gard process”.
It is unclear whether pending green card applications will be affected.
A spokesperson for the USCIS told the BBC that as the policy is rolled out, “people who present applications that provide an economic benefit or otherwise are in the national interest will likely be able to continue on their current path”.
“Others may be asked to apply abroad depending on individualised circumstances,” it said.
Being a green card holder, or lawful permanent resident, allows a person to live and work permanently in the US. Obtaining one is a multi-step process that can take months to several years.
There are currently more than a million legal immigrants waiting for approval on their adjustment of status green card applications, according to the Cato Institute’s director of immigration studies.
Kahler argued that following the law allows the majority of cases to be handled by the US State Department at consular offices abroad and frees up USCIS resources to focus on processing other cases that fall under its purview – such as visas for victims of violent crime and human trafficking, naturalisation applications, and other priorities.
The move is consistent with longstanding immigration law and immigration court decisions, the agency said. Immigration officers are being directed to “consider all relevant factors and information on a case-by-case basis when determining whether an alien warrants this extraordinary form of relief”.
Michael Valverde, who was a senior official at USCIS under both Republican and Democratic administrations until his departure last year, said to the BBC’s US media partner CBS that Friday’s announcement would “disrupt the plans of hundreds of thousands of families and employers annually”.
“This is a largely unprecedented move that will limit lawful immigration to the US greatly,” Valverde said. “People who followed the rules faithfully now face tremendous uncertainty.”
The Trump administration has instated bans or restrictions on citizens from nearly 40 countries.
Another policy from the administration this year has paused all visa issuances to immigrant visa applicants from 75 countries.
Overstaying a US visa can lead to deportation, ineligibility for future visas and re-entry bans lasting up to 10 years, according to the US State Department.
[BBC]
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Flood warning issued to the Aththanagalu Oya basin extended until 0600AM on Monday [25]
The warning mentioned in the flood warning message No. 01 issued for the Aththanagalu Oya basin on 22.05.2026 at about 5.30 am will be extended for the next 48 hours.
It is requested that residents in the area and vehicle drivers running through those areas pay high attention in this regard by the . Disaster Management Authorities are requested to take adequate precautions in this regard
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