6
In the wake of U.S. President Donald Trump firing off letters to 14 countries announcing new reciprocal tariff rates while delaying the implementation of the same for other countries till August 1, Sri Lanka continues to remain engaged with the U.S. authorities for a positive outcome, according to a Minister.
26
A significant duty fraud scheme involving courier imports from popular e-commerce platforms like Temu is causing a daily loss of between Rs. 35 to 50 million in tax revenue to the Sri Lankan government, industry leaders claimed at a press conference held in Colombo this week.
6
Business leader Dhammika Perera has acquired a controlling stake in East West Properties PLC, purchasing approximately 77.40 percent of the company’s shares in a significant transaction valued at over Rs.3.2 billion.
3
Sri Lanka’s rubber industry is at crossroads at present with changes taking place in trade, climate, and global consumer expectations, and these have contributed to the falling output, the Ceylon Rubber Traders’ Association (CRTA) said.
19
The Inland Revenue Staff Officers’ Association (IRSOA) urged the government to grant tax concessions for importing vehicles with engine capacities below 1,500cc instead of prioritising the import of higher-capacity vehicles that drain more foreign exchange.
4
The Supreme Court ruled that the police have violated the Fundamental Rights of two farmers who participated in a 2018 protest, by causing their remand custody through the submission of an unlawful report and moving for remand based on arbitrary reasons.
0
The Colombo Stock Exchange (CSE) closed the trading day on a negative note, despite witnessing heightened trading activity. Within the first half of the session alone, the market generated approximately LKR 5.00 billion in turnover, primarily driven by a series of significant crossing trades that dominated the day’s proceedings.
17
The local vehicle market could face sharp price hikes if the government imposes any conditions on utilising the remaining USD 200 million allocated for vehicle imports, Vehicle Importers’ Association of Sri Lanka (VIASL) President Prasad Manage warned.