News
93 percent jump in tax collection in first half of this year
The total tax revenue collected by the Inland Revenue Department (IRD) for the first half of 2023 was 696,946 million rupees (2,233 million U.S. dollars), the IRD said in a press release on Wednesday night.The corresponding revenue in the first six months of 2022 was 361, 832 million rupees (1,159 million U.S. dollars), the IRD said.It represents a 93 percent increase in tax revenue this year, the IRD said.
The reasons for this increase are decisive changes in the tax policy, the gradual recovery of the economic situation of the country and the efficiency of the efforts of the IRD, Commissioner General Inland Revenue D.R.S. Hapuarachchi said.
Meanwhile, an IMF spokesman has told the media that revenue mobilization is a key pillar of the IMF program with Sri Lanka.
“As part of the upcoming first review of the EFF program currently scheduled in September, the IMF plans to discuss with the authorities how best to mobilize additional revenues. This could include considering the benefits and challenges with introducing a digital service tax,” the unnamed
spokesman said. However, the IMF has not discussed any plans for a digital services tax with the Sri Lankan authorities in the current program, nor has it provided any recommendation on whether or not Sri Lanka should sign on to the OECD/G20 inclusive framework agreement for international corporate taxation, he said. Sri Lanka has increased the personal income tax rates and lowered tax thresholds from January 2023 in a bid to raise income following the financial crisis of 2022.
The Chartered Computer Institute of Sri Lanka was established in 1976 as the premier and sole body representing professionals in the Information and Communication Technology sector in Sri Lanka. It has recognized the importance of establishing the Sri Lanka Chartered Computer Association as the main professional organization to act on behalf of the interests of professionals representing the computer sector in Sri Lanka, which should be treated equally with other professional organizations that have obtained chartered status and other formal recognition.
Accordingly, taking into account a resolution furnished by the Hon. President, the Cabinet of Ministers has decided to grant policy approval for the establishment of the Chartered Computer Institute of Sri Lanka and to instruct the Legal Draftsman to prepare a draft bill in line with the proposed objectives.
it has become essential to introduce appropriate revisions to the Drug Dependent Persons (Treatment and Rehabilitation) Act No 54 of 2007 so that a proper formal mechanism can be maintained in treatment and rehabilitation.
Accordingly, considering a resolution forwarded by the Minister of Public Security and Parliamentary Affairs, the Cabinet of Ministers decided to grant the policy approval to revise the Drug Dependent Persons (Treatment and Rehabilitation) Act No 54 of 2007 and direct the Legal Draftsman to formulate a draft bill including the relevant amendments.
The Cabinet of Ministers approved the resolution furnished by the Minister of Agriculture, Livestock, Lands and Irrigation to appoint Mrs. O. T. M. I. Thilakarathne, the senior most officer in Sri Lanka Surveyors’ Service serving as an Additional Surveyor General of that Department to the Post of Surveyor General that will be vacant from 20.08.2026.
Charted Computer Institute of Sri Lanka to be established
Drug Dependent Persons (Treatment and Rehabilitation) Act No 54 of 2007 to be amendmend
Mrs. O. T. M. I. Thilakarathne appointed to the Post of Surveyor General
Purchase of 600 buses for intercity / long distance services of the Sri Lanka Transport Board
Protection of Historical, Cultural, and Traditional Intellectual Property related to the Kandy Esala Perahera
Development of roads which are not under the Road Development Authority
‘Dates have the highest sugar content to fight Coronavirus’
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