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Opposition’s lack of transparency on amendments to Sri Lanka IMF deal questioned

ECONOMYNEXT – Global fund managers have approached Colombo’s Port City regulators proposing to set up a fund that will finances its real estate and businesses, Saliya Wickramasuriya, a member of its regulatory commission said. The Colombo Port City to be renamed, International Financial and Technological City, is awaiting the construction of buildings (vertical development) for […]


Sri Lanka inks deal for 150MW solar park with transmission

ECONOMYNEXT – Taxes foregone due to investment relief given through a Strategic Development Project Act was 1,085 million rupees, according to a tax expenditure disclosure made by the Finance Ministry. The taxes are calculated for 14 strategic projects. The law has come under fire for discretionary tax holidays given up to 25 years, compared to […]


IMF review team discuss Sri Lanka energy pricing, utility finances

ECONOMYNEXT – Sri Lanka has lost 23.94 billion in corporate taxes in 2022 from concessions given to Board of Investment approved companies compared to higher corporate tax rates approved by parliament under an International Monetary Fund program. According to the tax expenditure statement the taxable income was 168 billion rupees, with 77 billion in manufacturing, […]


Sri Lanka’s coconut price down 2.6-pct at auction

ECONOMYNEXT- Sri Lanka’s average coconut price fell 2.6 percent to 72,030 per 1,000 nuts at an auction on March 7, data from the island’s Coconut Development Authority shows. The highest price was 79,100 rupees for 1,000 nuts down from 79,600 rupees a week ago, while the lowest was 65,000 down from 67,000 rupees. A total […]


Sri Lanka Railways squatters to be leased land, charged tax

ECONOMYNEXT – The net assets of Sri Lanka’s central bank fell to 11.1 billion rupees in December 2023 from 25 billion rupees a month earlier, according to the valuation method used, official data show. The reason for the December fall, whether it was due to administration expenses being charged or valuation losses is not clear. […]


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