News
SJB warns of further tax increases
Chief Opposition Whip and Kandy District SJB MP Lakshman Kiriella says that there will be further tax increases under the current dispensation.
Speaking at a rally in Watteg-ama, Kandy, on Sunday, Kiriella said: “The Gota-baya Rajapaksa government, too, was responsible for the situation. When we formed a government in 2015, the World Bank instructed us to increase state revenue. We found that big companies evaded taxes. They did so by declaring only 25 percent of their actual income. Thus, the then Finance Minister was instructed to tax those companies. By doing so we earned Rs 800 billion in a year. Gotabaya Rajapaksa, in his government’s first Budget, did away with that
tax and lost Rs 800 billion as a result. Couple of months later, there was the COVID pandemic and we were left without money to purchase medicine. Since then the governments have lived on nothing but taxes.
Kiriella said the SJB had learnt that the government was planning to burden the public with further tax and tariff increases.
Approval of the Cabinet of Ministers has been granted at their meeting held on 19.05.2025 in order to introduce amendments to the Inland Revenue Act No. 24 of 2017 including the proposed tax revisions to enhance the tax structure paving way for state financial integrity based on revenue.
Accordingly, the revised draft bill has been prepared by the legal draftsman and clearance of the Attorney General has been received.
Therefore, the Cabinet of Ministers has granted approval for
the resolution furnished by the President in his capacity as the Minister of Finance, Policy Planning and Economic Development to publish the aforementioned draft bill in the government gazette notification and subsequently, forward the same to the Parliament for its concurrence.
The National Mineral Policy was prepared for the first time in the year 1999, and the aforementioned policy has been amended in 2023 to cover matters such as preparing an updated data system related to mineral resources, adding value to the export of minerals, encouraging mineral-related industrialists, extracting mineral resources and managing the environment sustainably, and resolving the issues related to the ownership of the land arising in extracting mineral resources.
The revised National Mineral Policy has been reupdated in line with the manifesto “A Sustainable Resource Utilization – Generation of the Highest Benefit” under the policy statement of the current government” A Thriving Nation – A Beautiful Life.”
Accordingly, the Cabinet of Ministers has approved the resolution presented by the Minister of Industries and
Entrepreneurship to implement the so-formulated “National Mineral Policy—2026.”
The Gampaha High Court has sentenced Twelve (12) individuals to death over the 2022 murder of former Polonnaruwa District Member of Parliament Amarakeerthi Athukorala and his security officer.
Heartbreak for Gurbaz and Afghanistan as South Africa win after double Super Over
Amendment of the Inland Revenue Act No. 24 of 2017
Cabinet nod for “National Mineral Policy” – 2026
Twelve sentenced to death by Gampaha High Court
Ten new buses with facilities for people with special needs
Ghosts of 2016 writ large as England, West Indies meet again
‘Dates have the highest sugar content to fight Coronavirus’
Sunday Island 27 December – Headlines
#SundayIsland 17th December – Headlines
Sunday Island – 28th March
Sunday Island Headlines – 21 March
Sunday Island – 21st February – Headlines
-
Features4 days agoMy experience in turning around the Merchant Bank of Sri Lanka (MBSL) – Episode 3
-
Business5 days agoZone24x7 enters 2026 with strong momentum, reinforcing its role as an enterprise AI and automation partner
-
Business4 days agoRemotely conducted Business Forum in Paris attracts reputed French companies
-
Business4 days agoFour runs, a thousand dreams: How a small-town school bowled its way into the record books
-
Business4 days agoComBank and Hayleys Mobility redefine sustainable mobility with flexible leasing solutions
-
Business5 days agoHNB recognized among Top 10 Best Employers of 2025 at the EFC National Best Employer Awards
-
Editorial7 days agoAll’s not well that ends well?
-
Business5 days agoGREAT 2025–2030: Sri Lanka’s Green ambition meets a grid reality check