Tag: Sri Lanka
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Sri Lanka’s Official Reserve Assets Increase to USD 6.095 Billion in February
Sri Lanka’s Official Reserve Assets recorded a 0.5% increase in February 2025, reaching USD 6.095 billion, compared to USD 6.065 billion in January 2025, according to data released by the Central Bank of Sri...
Modernised IRD and Revenue Authority to change fiscal landscape
The Inland Revenue Department (IRD) is currently undergoing a modernisation process to support recent tax policy reforms moving towards the automation of its core...
Fraudulent Vehicle Imports incurs a loss Rs. 3 Billion in tax revenue
A high-profile fraud involving over 200 luxury vehicle importation has been unearthed, amounting to a colossal loss to the government owing to non-payment of...
Foreign investments encouraged in the mineral sector despite ongoing controversies.
Sri Lanka is promulgating new laws and initiatives in the hope of securing up to 10 foreign investments in mining with a view to...
Colombo Port City Construction Delays Cause Heavy Losses for State
The Colombo Port City construction delays due to successive governments’ ad hoc decisions of suspending the ongoing work from time to time have caused...