Sri Lanka promises to make payment clearance as soon as feasible

The recent US $2.5 million cyber theft from the newly established Public Debt Management Office (PDMO)—where a sovereign debt repayment to Australia was intercepted via systemic digital breaches, had a direct bearing on Sri Lanka’s programme with the International Monetary Fund (IMF), according to a top official. IMF Resident Representative Martha Tesfaye Woldemichael told Daily […]

Govt. retains Rs. 60 Mn VAT threshold, drops planned reduction

The government has decided to retain the current Rs. 60 million annual turnover threshold for Value Added Tax (VAT) and the Social Security Contribution Levy (SSCL), postponing a previously proposed reduction to Rs. 36 million that was scheduled to take effect from July 1. The announcement was made in Parliament by Deputy Minister of Economic […]