SME tax reductions will boost growth
Tax reduction for SMEs and tax exemptions for
targeted sectors are most welcome, said Tax Consultant and Partner
Gajma and Co, N.R. Gajendran. “Yet it is mind boggling how blanket
exemptions can be given for strategic projects for a long period of
time - 25 years, which itself, may exceed the life span of some of
these projects. This has challenged revenue,” he said.
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Drought impacts prices
Inflation measured by the Colombo Consumers’
Price Index (CCPI) (2006/07=100) increased in July 2012 to a
42-month high. The prevailing drought and the resulting price
increase of food items such as rice, vegetables, fruits, the price
increase of fish and impact of the depreciating rupee on prices of
imported commodities have contributed to inflation.
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Record iron ore production
Geneva - The world's iron ore market achieved an
all-time high for production in 2011 of 1.92 billion tons, up 4.7
per cent from 2010, UNCTAD’s Iron Ore Market 2011–2013 said. The
e-version of the report was released in June. A hard-copy version
has now been published by the UNCTAD Trust Fund on Iron Ore
Information,
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UK’s Plymouth University partners NSBM
UK’s Plymouth University, ranked among the top10
modern UK universities in the world, recorded its partnership with
Sri Lanka’s National School of Business Management [NSBM]. Plymouth
University’s President and Vice Chancellor, Wendy Purcell were
present at the launch. The chief guest was Minister of
Education,Bandula Gunawardena.
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CB's FIU signs MoUs
The Financial Intelligence Unit (FIU) of the
Central Bank of Sri Lanka (FIU - Sri Lanka) recently entered into a
Memoranda of Understanding (MOUs) with Financial Information Unit of
the Bank of Mongolia, Federal Financial Monitoring Service of
Russian Federation (FIU - Russia),
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ICT sector, a catalyst in development
The ICT sector is a catalytic moving force in
Sri Lanka’s development, said ICT Agency of Sri Lanka (ICTA) CEO,
Reshan Dewapura at a press conference held in Colombo recently to
mark the 14th National Best Quality Software Awards (NBQSA) 2012
launch.
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WIPO praises Lanka's branding efforts
The global body in charge of patents,
trademarks, copyright and GI protection, has praised Sri Lanka’s
global branding efforts. Sri Lanka appears to have two more
potential global brands in addition to tea and cinnamon.
“International branding is the way to go.
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