Officials from the Inland Revenue Department have emphasized the significance of adhering to the existing Inland Revenue Law, which mandates the submission of annual income reports for the assessment year 2022/2023 by November 30th, covering the period from April 1st, 2022 to March 31st, 2023. Failure to meet this deadline will result in penalties, with a fine of 50,000 rupees and an additional 5% of the tax payable for individuals maintaining tax files without submitting the report on time.
These remarks were made during a workshop organized by the Sectoral Oversight Committee on Alleviating the Impact of the Economic Crisis, held in Parliament with support from the Inland Revenue Department. Chaired by Hon. Gamini Waleboda, Member of Parliament and Committee Chair of the Sectoral Oversight Committee, the workshop saw attendance from State Ministers, MPs, and parliamentary officials. Representatives from the Inland Revenue Department, including Senior Commissioner Sujeewa Senadheera, Senior Deputy Commissioner Nandana Kumara, and Senior Deputy Commissioner M.H.D. Meneripitiya, provided detailed briefings.
The workshop aimed to educate attendees about the implications of the current income tax law, specifically highlighting the necessity of income reports and the consequences associated with failing to provide them. Notably, it was disclosed that income tax files have been initiated for all Members of Parliament, with practical guidance provided on completing the income report through the Inland Revenue Department’s website and submitting it online to the department’s system.
Members of Parliament actively engaged with officials during the workshop, seeking clarifications on potential issues that might arise during the report submission process.
Save the Children, in collaboration with the United States Department of Agriculture (USDA), is set to embark on the second phase of the PALAM/A initiative, injecting a substantial US$32.5 million. This program aims to expand the integrated Food for Education Programme, focusing on enhancing literacy and nutrition for over 200,000 schoolchildren in 917 primary schools and 20,000 preschoolers across eight districts in Sri Lanka.
The project aligns with ongoing efforts to bolster the National School Nutrition Programme in partnership with the Sri Lankan government, emphasizing sustainable strategies for improved learning outcomes.
Beyond alleviating short-term hunger among school-age children, this initiative aims to heighten student attendance, elevate literacy instruction quality, enhance classroom attentiveness, and instill healthy dietary habits. This comprehensive approach seeks to address the educational and nutritional challenges accentuated by Sri Lanka’s economic crisis since 2022, promising a brighter future for the nation’s children.
Save the Children’s earlier PALAM/A Project successfully reached 95,000 children in 852 schools across seven districts, collaborating effectively with Sri Lanka’s key ministries, including Education, Health, and Finance Economic Stabilisation and National Policies. The project not only improved access to nutritious meals but also notably enriched the overall learning environment.
Julian Chellappah, Country Director of Save the Children’s Sri Lanka Country Office, reaffirmed their dedication to Sri Lankan children, emphasizing the commitment to nurturing young learners’ potential.
U.S. Ambassador to Sri Lanka, Julie Chung, praised the collaboration, highlighting the total USDA contribution to child nutrition in Sri Lanka reaching US$60 million. She underscored the program’s significance in equipping Sri Lankan children with essential tools for success, emphasizing the robust bond between the United States and Sri Lanka.
Education Minister Dr. Susil Premajayantha emphasized the pivotal role of education in the nation’s progress, acknowledging the joint efforts of the USDA and Save the Children in shaping a promising future for Sri Lankan children.
Micah Olad, Chief of Party for Save the Children’s PALAM/A Project, expressed confidence in the initiative’s ability to drive positive change, building upon past achievements and envisioning a more substantial impact on children’s lives in Sri Lanka.
The ongoing commitment of Save the Children and USDA underscores their dedication to advancing the well-being of Sri Lankan children, with the PALAM/A Project standing as a beacon of hope for a brighter future.
UN Women: “In our society, there is a belief that domestic violence should be kept behind closed doors and not discussed openly”, says Anoja Makawita, a social worker and counsellor at Women in Need (WIN).
“Violence within families has far-reaching consequences, and it is women and girls who suffer the most”, she said. “It is not just an issue within individual households; it has an impact on entire communities.”
Makawita was part of the group that founded WIN in 1987, and the organization has worked ever since to provide survivors of gender-based violence with legal aid, counseling, and even housing support.
One in five Sri Lankan women have experienced physical and/or sexual violence by an intimate partner according to a 2019 survey. Nearly half of the women who experienced sexual violence by a partner did not seek formal help due to shame, embarrassment, fear of being blamed or not being believed, or thinking the violence was normal or not serious enough to seek help.
UN Women’s Empowering Women in Crisis project, funded by the government of Japan, has provided relief and support to 11 women’s shelters throughout Sri Lanka, including those run by WIN.
“Helping these women reintegrate into society is however one of the most challenging aspects of our work”, Makawita said, noting that many women who escape domestic violence are unable to return to their old home or afford to rent a new one. WIN works with such women to connect with other organizations and find housing for up to six months, during which time they can seek employment.
WIN is not the only organization in Sri Lanka devoted to helping survivors of gender-based violence. In the country’s North Central province, the Association for Women with Disabilities, or AKASA, operates as a network of self-help groups dedicated to creating opportunities and empowering women to live with dignity and independence.
The organization’s safe house in the town of Thalawa specializes in helping women and girls with disabilities who have faced abuse.
AKASA Chairperson N.G. Kamalawathie described the case of a 21-year-old woman who suffers from a disability in her spine. She identified her as Lilanthi, a pseudonym, and told how she found peace at AKASA after many years of struggle.
After being abused by her mother’s husband and his friend as a child, Lilanthi went to the police. Authorities arrested her abusers, and then placed Lilanthi in an orphanage. She was forced to leave that facility at 18, but could not find a stable home—until she finally found AKASA.
“I am so happy to see the women in this house improving day-by-day, working towards a sense of normalcy in life, and we always support them with whatever guidance they need”, Kamalawathie said.
Another organization, the Jaffna Social Action Centre (JSAC), supports women and children in Sri Lanka’s Northern province. Run by Nadarajah Sukirtharaj, JSAC has developed a host of programming for survivors of violence.
“When we first started JSAC, our community was largely unaware of the significance of safe houses for survivors of violence”, Sukirtharaj said. “To address this, we initiated several awareness programmes and even established women’s groups in villages to spread the word. We have seen a shift in perception since then.”
JSAC has similarly received support through the Empowering Women in Crisis project.
“I must express my deep appreciation for the invaluable support provided by UN Women”, said Sukirtharaj. Founded in 2003, JSAC now operates across eight districts in Sri Lanka.
Makawita, of WIN, echoed Sukirtharaj’s message.
“Although we provide legal and counseling support, we often need assistance in helping these women find jobs or providing self-employment opportunities”, she said. “I want to express my deep gratitude to UN Women for their invaluable support, especially during times of economic hardship.”
The Agriculture and Plantation Industry Ministry under Minister Mahinda Amaraweera has unveiled ambitious plans to allocate Rs. 400 million towards the planting of 400 hectares of coffee in the upcoming year. President Ranil Wickremesinghe has earmarked this substantial fund to bolster coffee cultivation in 2024, aiming to rekindle the nation’s prominence in the global coffee market.
Minister Amaraweera highlighted the foreign market’s surging demand for coffee, despite its current status not being a primary plantation crop in Sri Lanka. With this in mind, the initiative seeks to reignite and popularize coffee cultivation, offering incentives of one million rupees per hectare. He urged officials to actively support and motivate farmers keen on venturing into coffee cultivation.
The Ministry’s 2024 Budget, outlined in the discussion on fiscal management, has earmarked Rs. 96 billion. Emphasizing efficient utilization of this allocation, Minister Amaraweera stressed the importance of maximizing its impact for the industry’s growth.
Renowned for its diverse coffee varieties including Coffea Arabica (Arabica coffee), Coffea Canephora (Robusta coffee), and Libarica coffee, Sri Lanka boasts a rich heritage in coffee cultivation. The Minister specifically directed the Export Agriculture Department to prioritize the cultivation of Arabica coffee due to its global popularity.
In a bid to enhance productivity, the Ministry introduced high-yielding Arabica coffee varieties like HTD, S09, Katimur, Lakparakum, Lak Saviru, and Lak Komali. Simultaneously, local species of Robusta coffee such as IMY, S274, GCR, CCI, Lanka Chandra, Lanka Bhimsara, and Lanka Isuru have been introduced, aiming to diversify and boost coffee production.
Reports suggest that Senior DIG Deshbandu Tennakoon is slated to be appointed as the Acting Inspector General today (29), just before President Ranil Wickremesinghe departs for the COP 28 conference in the United Arab Emirates. Sources reveal ongoing activities in the President’s Office pertaining to this impending appointment.
However, while the appointment of Tennakoon is anticipated, the formal confirmation as the Inspector General of Police might occur after a three-month interim period. Simultaneously, discussions are underway regarding a proposal aimed at capping the tenure of the IGP to a maximum of three years, a proposal likely to be presented to the cabinet.
This proposed tenure restriction implies that if the appointed IGP does not reach the age of 60 within three years of assuming the position, the stipulation would still apply. Notably, many highly qualified senior Deputy Inspector Generals eligible for the IGP role are currently in their 50s, potentially affected by this proposed tenure limit.
This morning (29), a poignant protest unfolded at the Aluthkade court complex led by the families of missing persons, resonating with the title “Ape Naduwa Asaw”. The demonstration spotlighted the unresolved case of eleven individuals abducted in 2008 by the Navy ransom gang, compelling an investigation into their disappearance.
Among those implicated in this distressing incident, which involved former Navy Commander Wasantha Karnagoda, 14 individuals face charges. The case, initially in the Fort Magistrate’s Court, was referred to a specialized three-member court by the Chief Justice in 2020.
Despite the passage of 15 years since the 2003 incident and the accumulation of 667 charges against the accused, the families expressed frustration over the delay in the three-member court’s examination of the evidence. They highlighted that testimonies from nearly 200 individuals had been solicited, underscoring the magnitude and gravity of the situation.
Colombo (LNW): A group of Sri Lanka’s creditor nations are likely to reach an agreement on debt relief and an extension of repayment deadlines for the South Asian nation, Japan’s Jiji News reported on Wednesday, without naming a source or giving any details.
Japan co-chairs this group, together with France and India. China is Sri Lanka’s largest bilateral creditor and has steered clear of joining this group as a formal member.
Sri Lanka is expecting the official creditor committee representing bilateral creditors to follow China with an in-principle agreement very shortly, President Ranil Wickremesinghe said.
“China Exim Bank was the first to provide Sri Lanka with the agreement in principle,” President Wickremesinghe told the Sri Lanka Economic Summit 2023 organized by the Ceylon Chamber of Commerce.
“We expect the official creditors committee to provide a similar agreement in principle very shortly.”
Sri Lanka engaged with the OCC (made up of Paris Club, Japan and India), in parallel with China, President Wickremesinghe said.
“Contrary to many expectations Sri Lanka has been able to successfully navigate this process. You need transparency and good faith engagement,” he said.
“With this we expect the IMF board to be in a position to conclude the first review of Sri Lanka’s EFF program within the month of December.
“Discussions with external private creditors are ongoing in parallel and we expect to reach agreement on specific re-structuring terms with them very shortly.”
The IMF is expected to release 330 million dollars in budget support loans after a successful completion of the review once they are satisfied with the restructuring deals.
More funding from the Asian Development Bank, and World Bank which are linked to structural benchmarks on energy
Mired in its worst financial crisis in decades, Sri Lanka has been trying to reach restructuring deals with creditors since last year.
The agreement with the group of creditor nations came about a month after the debt-ridden island nation reached a deal with the Export-Import Bank of China covering about $4.2 billion of outstanding debt.
The EXIM deal will help Sri Lanka clear the first review of the bailout by Dec. 6 under the International Monetary Fund (IMF) executive board program, while securing a second IMF tranche of about $334 million, its finance ministry says.
In so doing, Colombo is also seeking to receive more clarity on its debt restructuring talks with key bilateral creditors. The approval would unlock $330 million in funding and signal progress for the four-year programme.
Sri Lankan Rupee exhibited stability against the US Dollar at various commercial banks, maintaining a similar position to Tuesday’s rates.
At Peoples Bank, the buying and selling rates for the US Dollar held steady at Rs. 323.39 and Rs. 334.66, respectively.
Contrarily, Commercial Bank noted a slight shift, with the buying rate of the US Dollar decreasing from Rs. 322.74 to Rs. 322.22, while the selling rate increased marginally from Rs. 333 to Rs. 333.25.
Meanwhile, Sampath Bank reported unchanged rates for the US Dollar, with both the buying and selling rates holding firm at Rs. 324 and Rs. 334, respectively. Overall, the Sri Lankan Rupee maintained relative stability against the US Dollar across these banking institutions.
Colombo (LNW): Asian Development Bank will finance high priority needs of Sri Lanka, specifically targeting infrastructure development and the ongoing structural reform program of the country, exceeds US$ 4 billion.
It has recently extended a sum of US$ 60 million Financial Assistance from ADB under Second Integrated Road Investment Program – Tranche 4.
The loan of $ 60 million will be provided from ADB’s Concessional Ordinary Capital Resources.
The total investment cost of the 4th tranche is estimated at $68.5 million, out of which$ 8.5 million has been agreed to be borne by the Government.
The relevant Loan Agreement for the Second Integrated Road Investment Program (Tranche 4) was signed by. K.M. Mahinda Siriwardana, Secretary, Ministry of Finance and Takafumi Kadono, Country Director, ADB Sri Lanka Resident Mission, on 28th November 2023.
Meanwhile the ADB has assured that it ill continue financing high priority needs of Sri Lanka, specifically targeting the ongoing structural reform program of the country, exceeds US$ 4 billion.
This was revealed following the strategic dialogue taken place during the three day period to finalise the annual Country Programming exercise, a five year lending and non-lending indicative pipeline from ADB resources.
Country Programming Mission was held between the Government of Sri Lanka and the Asian Development Bank from 16 to 18 August 2023 at the ADB Headquarters, finance ministry sources said.
Priyantha Rathnayake, the Deputy Secretary to the Treasury who headed the Government delegation, held discussions with Shixin Chen, the Vice President of ADB and other senior officials of ADB as well as the senior Directors in- charge of each of the sectors.
Sri Lanka is a founding member of the Asian Development Bank (ADB). To date, ADB has committed 482 public sector loans, grants, and technical assistance totaling $11.2 billion to Sri Lanka.
Cumulative loan and grant disbursements to Sri Lanka amount to $9.42 billion. These were financed by regular and concessional ordinary capital resources, the Asian Development Fund, and other special funds.
ADB’s ongoing sovereign portfolio in Sri Lanka includes 41 loans and 1 grant worth $3.64 billion
The Government of Sri Lanka is planning to borrow USD 60 million from the Asian Development Bank (ADB) under the Second Integrated Road Investment Program (Tranche 4) to finance carrying out the critical works of the already commenced and incompleted road sections of the overall Integrated Road Investment Program to improve road safety and minimize public inconvenience.
Colombo (LNW): Japan has pledged to continue its assistance towards implementing Sri Lanka’s demining programme in the Northern and Eastern provinces.
Japanese Ambassador to Sri Lanka Mizukoshi Hideaki signed the grant contracts of two demining projects under the scheme of “Grant Assistance for Grassroots Human Security Projects.”
The agreements were signed with Mines Advisory Group and HALO Trust.
The Government of Japan has provided a total sum of US$ 729,925 (approx. Rs. 238 million) for these two projects with MAG and the HALO Trust to extend its support for humanitarian demining activities in the Northern and Eastern provinces of Sri Lanka.
Japan has been a major donor in demining activities in Sri Lanka since 2002, and the total amount of assistance exceeds US$ 44 million.
It is expected that these projects by MAG and HALO will together contribute to resettlement and livelihood support for a total of 10,977 IDPs (internally displaced people) in the Northern and Eastern provinces.
The development of the conflict-affected areas is one of the priority areas of Japan’s official development assistance policy to Sri Lanka.
Ambassador Mizukoshi strongly reiterated that the Government of Japan has been committing its role as a leading donor in demining activities and will continue to provide the necessary support to achieve “Mine-Impact-Free Sri Lanka.”
Following the conclusion of Sri Lanka’s 30-year war in 2009, approximately 1.6 million landmines remained buried in the ground, unmarked and largely unrecorded, causing extensive internal displacement in the Northern Province and other areas.
The Sri Lanka Director of the National Mine Action Centre (NMAC) and the Secretary to the Ministry of Urban Development and Housing, W.S. Sathyananda, highlighted the achievements of Sri Lanka’s mine action programme, which was established in 2002 and continued until 2023.
He revealed that a total of 202 square kilometres of land had been declared free of anti-personnel mines and Explosive Remnants of War (ERW), allowing local communities to resume their day-to-day activities.
Furthermore, the programme successfully destroyed over 843,000 Anti-Personnel mines and 360,700 Unexploded Ordnances (UXOs), ensuring the safety of the population in affected areas.
He noted that presently, 15.44 square kilometres of heavily contaminated hazardous areas remain uncleared and they are in very close proximity to population centres.
Japan, one of the top donors for demining, has been offering its generous support for demining and other development activities among other countries that also support Sri Lanka.
Japan is the major, longest-supporting donor in the area of mine clearance in Sri Lanka since 2002, assisting all the four demining agencies presently operating in Sri Lanka and so far.
Japan has offered USD 43.3 million in assistance rendered for demining activities through its Grant Assistance for Grassroots Human Security Project, noted the NMAC Director.