Sri Lanka will have to adjust to the new EU/UK
trade environment and ensure the island’s exports keep moving
favourably. “There are various issues Sri Lanka should seriously
look at in the process of re-establishing its trade links with the
UK and also with the EU,” biz leaders told the Business Observer.
The exit of the United Kingdom, the fifth
largest economy in the world, from the European Union, which is the
biggest market in the world, will affect trade, finance, security
and geopolitics. The initial reactions of the currency and the
commodity markets reflect great volatility.
Four globally renowned speakers will be at the
Strategy Summit 2016 in July 26 and 27 organized by the Business
School of the Institute of Chartered Accountants of Sri Lanka (CASL).
Dr. Sunil Erevelles, Martin Roll, Sam Dias and Omid Ghamami will
help corporate leaders in Sri Lanka and the Asian region to redefine
their organisations strategy,
Estate worker remuneration:
The Regional Plantation Companies (RPCs) have
put forward a modified proposal on the wages of estate/plantation
sector workers, which via a hybrid solution attempts to bridge the
gap between the demands of the unions and the need for productivity
improvement emphasised by the RPCs since the inception of the
current round of wage negotiations.
New Inland Revenue Act:
The new Inland Revenue Act to infuse more
clarity and attract investors, will be ready by September this year,
Finance Minister Ravi Karunanayake said last week while addressing
the media on Deemed VAT introduced by the government to bring
non-VAT registered small businesses and VAT registered enterprises
to the same level.