Tag: Budget LBO

Nov 07, 2007 (LBO) – The Sri Lankan government Wednesday said it would extend a 10 percent tax on mobile phones to wireless CDMA phones in an effort to raise revenue. . The move was announced by President Mahinda Rajapakse, who is also finance minister, when he presented the government’s budget for 2008 in parliament. […]

Nov 07, 2007 (LBO) – Sri Lankan media groups Wednesday condemned government restrictions on private media covering the 2008 budget speech by President Mahinda Rajapakse in parliament.The Free Media Movement, speaking on behalf of several media groups, said in a statement that it was deeply concerned and condemned the ban on photo journalists covering the […]

Nov 07, 2007 (LBO) – Incomes earned abroad by Sri Lankans including dividends and interest earned abroad that is remitted through the banking sector would be made free of income tax, according to proposals in the 2008 budget. Profits and income by individuals, partnerships, fees and allowances and dividends or interest from investments outside Sri […]

Nov 07, 2007 (LBO) – Sri Lanka says the budget deficit for 2008 would be 7.0 percent of the economy and the country was hoping to balance its revenues and day-to-day expenditure, a goal that has proved elusive for two decades. The government also promised a revenue surplus in 2007 but ended up with a […]

Nov 07, 2007 (LBO) – Sri Lanka would cap tax holidays to a maximum of three years from 2008, and extend tax incentives only to low income housing and projects in difficult rural areas, President and finance minster Mahinda Rajapaskse said.“(We will) give only three year tax holidays other than for flagship investments, or to […]

Nov 07, 2007 (LBO) – Central Bank governor Ajith Nivard Cabraal said that tight monetary policy and efforts to reduce the budget deficit should trim sky-high inflation in the coming months. He said the government has to maintain a balance between controlling inflation and maintaining steady economic growth. Cabraal said Wednesday the island had coped […]

BANGALORE, India, July 2, 2007 (AFP) – India’s exports of software and related services are expected to almost double in three years to 60 billion dollars, maintaining the country’s lead over rivals such as China, the industry said Monday.But the rupee’s strength and a shortage of talent are major concerns for an industry that posted […]