Sri Lanka’s new administration is set to present a Rs. 695 billion supplementary estimate with amendments to five tax acts in parliament to boost the revenue.
The Cabinet of Ministers has approved a proposal by Prime Minister and Finance Minister Ranil Wickremesinghe to amend five tax revenue acts to increase public revenue.
The five are - Inland Revenue Act, VAT Act, Telecommunication Levy Act, Betting & Gaming Levy Act and Fiscal Management Act.
The move is in line with the new interim government's aim of increasing public revenue to meet essential expenditure averting an economic crisis, Finance Ministry sources said.
The Government has announced an alternative relief budget as an interim measure. (Bandula)
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.
Read these and more on tomorrow’s edition of the Sunday Times
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.
Villagers in Nirmalapura, Daluwa, Norochcholai today staged a protest over an incident where a group of Navy officials and sailors had assaulted a resident in the area over night, Police said.
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