Facilitated by recent tax reforms, the government expects income tax files to increase by nearly five-fold from 205,200 to one million boosting the country’s income tax revenue and enhancing the direct and indirect tax ratio to 40 percent vs. 60 pe

President Ranil Wickremesinghe this week announced plans to establish a Digital Promotion Agency aimed at developing computer applications for the collection and monitoring of data from various government entities in the country.

Sri Lanka’s tea exporters yesterday expressed “deep concerns” over the government’s decision to abolish the Simplified Value-Added Tax (SVAT) system as they fear the move will create cash flow difficulties for them among several other issues.

Sri Lanka will be able to speed up its efforts in reviving its economy as it has obtained much-awaited approval from the Asian Development Bank (ABD) to access concessional financing.

The Food and Agriculture Organization of the United Nations (FAO) through the European Union (EU)-funded BESPA-FOOD (Best Standardized Practices for the Agri-Food Sector) project will support the government to establish a well-coordinated food safety

A new analysis by International Air Transport Association (IATA) released this week showed that post-pandemic, unruly passenger incidents are on the rise.

Sri Lanka’s economy is showing tentative signs of improvement, due to the implementation of critical policy actions, acknowledged visiting senior International Monetary Fund (IMF) official but noted recovery remains challenging.

Sri Lanka will see a further improvement in the supply of goods from the global market as early as next week, with the government announcing plans to ease the currently prevailing import restrictions.

The Colombo Tea Auction this week saw the prices for almost all the categories decline further, as the Sri Lankan rupee strengthened.

CNN: Macy’s, Costco and other big chains say shoppers are pulling back at their stores and changing what they buy. That could be a red flag for the US economy.

The fourth quarter of FY 2022/23 marked the close of a challenging year for Hela Apparel Holdings PLC.

Leading social media influencer Khalid Al Ameri, who is based in the Middle East, yesterday announced his visit to Sri Lanka.

China this week reiterated its commitment to Sri Lanka, stating it would always stand by Sri Lanka’s sovereignty as well as for political independence and socioeconomic development.

Vidullanka PLC reported a profit after tax (PAT) of Rs.913 million for the financial year ended on March 31, 2023, as per the latest interim financials published in the Colombo Stock Exchange.

The Central Bank yesterday delivered a surprise policy rate cut, bringing nearly two years long tightening cycle to a close and left open the door for further rate cuts in the next few months among other measures to ease remaining restrictions on imp

Ranil Wickremesinghe Sri Lanka will introduce a new system called ‘Lab methodology’ to promote investments ensuring effective implementation of business proposals, President Ranil Wickremesinghe said in his televised address to the nation yester

The government in a fresh gazette yesterday specified additional classes of persons required to register with the Inland Revenue Department (IRD), which is an attempt to broaden the country’s taxpayer base.

The Annual Report of National Savings Bank (NSB) for the year 2022

‘Samagi Sewaka Sangamaya’, a trade union attached to the ‘Samgi Jana Balawegaya’ (SJB) political party, has filed a Fundamental Rights petition seeking Supreme Court’s intervention in regularising the proposed privatisation of Sri Lanka Tel

SLT-Mobitel recently unveiled its technologically advanced, high-tech operational green headquarters, first in the history of SLT, located at Welikada, Colombo.

Tourist arrivals to Sri Lanka fell below the 100,000 mark for the first time this year due to the drop in momentum in the month of May,

BBC: Canada will soon print warning labels directly on cigarettes in a world-first, the country’s health agency announced.

Tourist arrivals to Sri Lanka fell below the 100,000 mark for the first time this year, with the month of May welcoming a total of 83, 309 international visitors.

The Monetary Board of the Central Bank relaxes policy interest rates by 250 basis points. Accordingly, SDFR comes down to 13 percent and SLFR to 14 percent.

Headline inflation in Colombo district measured by Colombo Consumer Price Index (CCPI) decelerated to 25.2 percent in May from 35.3 percent in April largely owing to higher base effects in last year.

The Export Development Board (EDB) will host an ‘Open Day’ event in mid-June, an effort towards providing businesses a platform to explore the opportunities and avenues to cater to the international market.

Food security in Sri Lanka is improving across all provinces, but is still prevalent within specific regions, the Crop and Food Security Assessment Mission (CFSAM) report revealed.

President Ranil Wickremesinghe yesterday highlighted the importance of Japanese investments to push the revival of Sri Lanka while affirming commitment to stabilising and liberalising the economy and actively inviting new foreign ventures.

Ceylon Tea came under fresh focus in Tehran recently, with the Sri Lankan Embassy promoting the premium product to locals on International Tea Day 2023, May 21.

In an attempt to promote entrepreneurship among the youth of Sri Lanka, the International Labour Organisation (ILO) collaborated with the Central Bank of Sri Lanka this week to explore avenues that would help create a favourable ecosystem to build ne