Sri Lanka’s inbound tourism operators on Monday joined growing concern over Finance Minister Ravi Karunanayake’s proposal to revert to the old Business Turnover Tax, discontinued in 1998, from the current Value Added Tax (VAT). The Sri Lanka Association of Inbound Tour Operators (SLAITO) sent letters to the Government saying the proposal will kill the sector and force double taxation, industry officials said. On Saturday, the Tourist Hotels Association of Sri Lanka warned that the proposed new tax structure to be announced in the 2016 national budget to be presented to parliament on Friday November 20 will badly impact the industry, hurt revenues and reverse development of new hotels. The association says the proposal is detrimental to the industry. The industry pays a VAT of 11 per cent while BTT could result in the industry paying double that – between 20 to 22 per cent, the officials said. – ENDS -
A Thai woman walking topless in Arugam Bay town has been arrested by the Police.
The UK government has unveiled a package of reforms to simplify imports from developing countries which allows for more garments manufactured in Sri Lanka to enter the UK tariff-free.
Cabinet has approved the appointment of Commodore (retired) M.B.N.A. Premaratne of the Sri Lanka Navy, as the new Commissioner General of Excise.
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