News
Two ex-Presidents say people will find it impossible to live under new VAT regime
Two former presidents on Wednesday have said that most people will find it impossible to live after 01 January 2024 due to VAT increases. Former president Maithripala Sirisena speaking to journalists in Colombo said that the administration of the country needed to change as soon as possible.
The VAT increases would cripple the economy, lead to job losses and increase the brain drain, Sirisena said.
Meanwhile, former president Mahinda Rajapaksa said that the government must not solely depend on taxes to boost state revenue. The government must take steps to alleviate the difficulties faced by the people, he said.
The Cabinet of Ministers has approved the resolution furnished by the Minister of Industries and Entrepreneurship Development to recognize the “Sri Lanka National Export
Development Plan – 2026–2030” as the official strategic framework for export development and promotion of exports in Sri Lanka.
The Sri Lanka Export Development Board, in collaboration with public and private sector stakeholders connected to the export sector, has formulated the National Export Development Plan 2026–2030 by obtaining technical assistance under the Policy-Based Lending Programme of the Asian Development Bank.
The aforementioned Plan provides a comprehensive strategic framework to guide and monitor Sri Lanka’s export development process, with the target of earning US$ 36 billion in foreign exchange through the export of goods and services by the year 2030
The Cabinet of Ministers has approved the resolution furnished by the Minister of Women and Child Affairs to accept the Global Charter for Children’s Care Reform for Sri Lanka.
Approval has been granted by the Cabinet of Ministers on several earlier occasions to amend the Consumer Affairs Authority Act No. 9 of 2003.
In accordance with the approval granted at the Cabinet
meeting held on 2023-05-02, the Legal Draftsman is currently in the process of preparing the relevant amended Bill, and the Legal Draftsman has informed that it would be appropriate to obtain policy approval from the present Cabinet of Ministers for that purpose.
Accordingly, taking into consideration the necessity of restructuring the Consumer Affairs Authority too, the Cabinet of Ministers has approved the resolution furnished by the Minister of Trade, Commerce, Food Security and Cooperative
Development to instruct the Legal Draftsman to expeditiously complete the preparation of the relevant Bill to enable the amendment of the Consumer Affairs Authority Act, No. 9 of 2003.
Cabinet approves recognition of ‘Sri Lanka National Export Development Plan – 2026–2030’
Cabinet nod to accept the Global Charter for Children’s Care Reform for Sri Lanka
Cabinet grants policy approval to amend the Consumer Affairs Authority Act, No. 9 of 2003
Cabinet approal for Legal Draftsman to prepare a Bill to enable the amendment of Finance Business Act, No. 42 of 2011
M.S. Mahadiulwewa appointed act in the post of Director General of Commerce
Wimal S.K. Liyanagama appointed Director General of Customs
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