The Inland Revenue Bill is set to be taken up for debate in Parliament next week. A full day debate has been facilitated on the Bill on August 25 from 11.30am to 7.30pm.
The Government will move further amendments to the Bill at its committee stage. The Supreme Court determined that several clauses in the Inland Revenue Bill were inconsistent with the Constitution.
The Government presented the Inland Revenue Bill in Parliament for the first reading on July 5. The Bill is to provide for the imposition of Income Tax for any year of assessment commencing on or after April 1, 2017.
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The Ceylon Petroleum Corporation (CPC) will reduce fuel prices with effect from midnight today.
Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, has cautioned that reversing the current economic programme could lead to a resurgence of the severe economic and social crisis Sri Lanka endured nearly two years ago.
President Ranil Wickremesinghe today inaugurated the open cycle phase of the “Sobadhanavi” 350 MW Combined Cycle Power Plant in Kerawalapitiya, the President’s Media Division (PMD) said.
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