President calls for strict implementation of polythene ban

VAT on imported fabric reduced to five percent

Minister of Finance and Mass Media Mangala Samaraweera, considering the requests made by stakeholders in the fabric industry, has reduced the Value Added Tax (VAT) on imported fabric to 5 percent. Minister Mangala Samaraweera signed the gazette notification in this regard today. Earlier the fabric was subject to Rs 100/kg CESS at the time of imports. The Budget- 2108 had proposed to impose a 15 % VAT on goods. The Value Added Tax Act No 14 of 2002 was amended accordingly and the new VAT scheme

17 Sep, 2018

India and Sri Lanka sign MoU for Rs. 300 million Dambulla project

India and Sri Lanka have signed a Memorandum of Understanding (MoU) for the construction of a 5000-metric ton temperature controlled warehouse in Dambulla. Indian grant assistance of SLR 300 million will be utilized for this purpose. The MoU was signed by Taranjit Singh Sandhu, High Commissioner of India to Sri Lanka and K.D.S. Ruwanchandra, Secretary, Ministry of National Policies and Economic Affairs of Sri Lanka in the presence of Dr. Harsha de Silva, State Minister of National Policies and

17 Sep, 2018

Sri Lanka to release 173 Indian boats

The Sri Lankan Government has ordered the release of all the 173 trawlers confiscated by its navy since 2015 after arresting fishermen on the charge of illegal?fishing in their waters, The Hindu newspaper reported. The Government order dated September 7 was received by the Fisheries Department in India last week and it is set to send a salvage team comprising fishermen, mechanics and officials to the island nation to assess the condition of the trawlers. ?We have received the order and the sal

18 Sep, 2018