News
Sri Lanka Institute of Taxation gets new council

Text and Pic by Jude Denzil Pathiraja
Prasanga Ranwatte, a tax professional and Senior Director of a leading Tax Firm was elected as President of the Sri Lanka Institute of Taxation (SLIT), for another term at its Annual General Meeting held recently (Dec 09).
The Executive Council of the Institute consists of eleven Tax professionals including three members appointed by the Ministry of Finance. Members of the Executive Council 2021/22 include, T. Prasanga Ranwatte President, SA Bharatha P Subasinghe Secretary, Ruwan Gamage Vice President, N.V. Sameera Vithanage Treasurer, D Rangalle, Ranil Abeywardhene, UP Gayan T Karunaratne, Mahi Nuwan Vithanage, AHM Thimira C Abeysinghe, Dr JAS Felix, and PVL Nandasiri.
They were elected at the 21st AGM of the Sri Lanka Institute of Taxation held at the institute’s new auditorium located at No 484, Havelock Road, Colombo 06.
Sri Lanka Institute of Taxation is the only national statutory body of tax professionals, which deals primarily and exclusively conducting professional study courses in Taxation in Sri Lanka.
The year 2021 marks the institute’s 29th anniversary serving the community by disseminating tax knowledge and producing tax consultants. In 1992, some of the retired senior officials of the Department of Inland Revenue took the initiative to form the Sri Lanka Institute of Taxation with the objective to produce competent tax professionals and to impart knowledge of taxation to members of the public. A few years later, after the formation of the Institute, steps were taken to incorporate it by an Act of Parliament to enable it to pursue its objectives with official sanction. The Bill to incorporate the Sri Lanka Institute of Taxation was passed in Parliament by Act No. 21 of 2000 on June 19, 2000.
The Diploma and Professional level study courses conducted by the Institute leading to its membership are currently very popular in Sri Lanka. The members of the institute are eligible to practice taxation as authorized representatives under the Inland Revenue Act.
News
Prime Minister meets with U.S. Ambassador and USAID delegation to discuss future of development cooperation

Prime Minister Dr. Harini Amarasuriya, met Ms. Julie J. Chung, U.S. Ambassador to Sri Lanka, and Ms. Maureen Hsia, Acting Mission Director and Programme Office Director for USAID Sri Lanka and Maldives at the Parliament recently. The meeting focused on the evolving framework of U.S. foreign assistance to Sri Lanka and potential avenues for sustained cooperation.
The US delegation briefed the Prime Minister on the recent three-month moratorium imposed on all foreign assistance by the United States, pending a comprehensive review by the U.S. Department of the Treasury. Discussions centered on the implications of this decision, particularly its potential impact on key development initiatives such as the women’s shelter project, and broader humanitarian concerns if current support mechanisms are disrupted.
Both parties acknowledged the critical role of the United States as a global leader in development and emphasized the importance of continuing bilateral collaboration. The Prime Minister welcomed the United States’ commitment to identifying alternative modalities to ensure uninterrupted support for Sri Lanka’s development priorities. In addition, the meeting addressed tariff negotiations, recognizing their relevance in bolstering economic resilience and supporting the country’s long-term growth trajectory.
Also in attendance were Ms. Angelina Hermon, Acting Director of the Office of Governance and Vulnerable Populations, and Ms. Nirmi Vitharana, Project Management Specialist from the Office of Economic Growth. Representing the Government of Sri Lanka were Pradeep Saputhanthri, Secretary to the Prime Minister; Ms. Sagarika Bogahawatta, Additional Secretary to the Prime Minister; and Ms. Pramuditha Munasinghe, Director of the North America Division at the Ministry of Foreign Affairs.
[Prime Minister’s Media Division]
Business
President briefs Sri Lankan delegation leaving for tariff related discussions in Washington

A Sri Lankan delegation is set to participate in discussions in Washington, D.C., focusing on tariff-related matters, following an invitation extended by the Office of the United States Trade Representative (USTR). This is the second in-person meeting aimed at ongoing efforts to strengthen bilateral trade relations between the two nations.
This initiative builds on several prior virtual interactions held between the USTR and Sri Lankan officials, and underscores a commitment to deepening economic ties. The upcoming talks are anticipated to explore avenues for enhancing trade cooperation and securing favourable outcomes for Sri Lanka, in light of current economic priorities.
Ahead of the visit, a high-level meeting was convened today under the leadership of President Anura Kumara Disanayake to ensure the country’s interests are well represented. The discussion focused on aligning the delegation’s approach with Sri Lanka’s broader economic strategy, ensuring the best possible outcomes from the upcoming discussions.
Key participants at the meeting included Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma; Secretary to the Ministry of Trade, Commerce, Food Security and Cooperative Development, K.A. Vimalenthirarajah; Duminda Hulangamuwa, Senior Economic Advisor to the President; Governor of the Central Bank Dr. Nandalal Weerasinghe; Secretary to the Ministry of Finance, Planning and Economic Development K.M.M. Siriwardana; Nirmal Vigneshwaran, representing the Attorney General’s Department; and Dharshana Perera from the Ministry of Foreign Affairs.
Details of the discussions in Washington are expected to be made available following the conclusion of the meetings.
[PMD]
Latest News
Professor I.M. Karunathilake appointed Vice Chancellor of the University of Colombo

President Anura Kumara Disanayake has appointed Professor I.M. Karunathilake as the new Vice Chancellor of the University of Colombo.
The official letter of appointment was handed over to Professor Karunathilake on Friday (23) at the Presidential Secretariat by Secretary to the President Dr. Nandika Sanath Kumanayake.
Professor Karunathilake is a pioneer in the field of medical education in Sri Lanka and holds the distinction of being the first Professor of Medical Education at the University of Colombo. He has been a member of the university’s academic staff since June 2000. He is an alumnus of the University of Colombo and the University of Dundee in Scotland, UK, and also holds senior fellowships from UK’s Higher Education Academy and the Royal College of Physicians of Edinburgh.
Internationally recognized for his expertise in medical education, Professor Karunathilake has contributed significantly at both regional and global levels through his work with leading organizations such as the World Health Organization (WHO), the World Bank, the Asian Development Bank (ADB), the Asia Pacific Academic Consortium for Public Health (APACPH), and the South-East Asian Regional Association for Medical Education (SEARAME).
He has previously served as the Secretary of the Sri Lanka Medical Association (SLMA) and was the founding President of the College of Medical Educationists (CME) in Sri Lanka. He has also served as Vice President of the Organization of Professional Associations (OPA). In 2021, Professor Karunathilake was unanimously elected as Secretary-General of the APACPH, becoming the first Sri Lankan to hold this prestigious position.
With this appointment, Professor I.M. Karunathilake becomes the 20th Vice Chancellor of the University of Colombo, an institution originally established in 1921 as the University of Ceylon.
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