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However the new amendments which were published on 19 December 2022 have increased the PAYE tax rates significantly and reduced the annual personal income reliefs to 12 million rupees. [ 13 ] VAT
The Gazette is published in Sinhalese, Tamil, and English which are the three official languages of Sri Lanka. It publishes promulgated bills, presidential decrees, governmental ordinances, major legal acts as well as vacancies, government exams, requests for tender, changes of names, company registrations and deregistrations, land restitution notices, liquor licence applications, transport ...
2022 Sri Lankan protests: The armed forces are allowed permission to open fire on any person involved in looting of public property or causing physical harm to others. [95] 12 May – 2022 Sri Lankan political crisis: Ranil Wickremesinghe is sworn in as the new Prime Minister. [96] Saman Ekanayake is appointed as the secretary to Prime Minister ...
A government circular is a written statement of government policy. It will often provide information, guidance, rules, and/or background information on legislative or procedural matters. See also
In early 2022, the Rajapaksa administration avoided debt restructuring opposing an IMF bailout in favour of a homegrown solution for the debt crisis. This strategy depleted foreign currency reserves and gold reserves in an effort to bolster the Sri Lankan Rupee and repayment of sovereign bonds, the central bank free floated of the currency in ...
The Central Bank of Sri Lanka (abbr. CBSL; Sinhala: ශ්රී ලංකා මහ බැංකුව, romanized: Sri Lanka Maha Bankuwa) is the monetary authority of Sri Lanka. It was established in 1950 under the Monetary Law Act No.58 of 1949 (MLA) and in terms of the Central Bank of Sri Lanka Act No. 16 of 2023, the CBSL is a body ...
In early March 2022, the Sri Lankan Rupee began losing value quickly. As of the early 2020s, the debt-laden country is undergoing an economic crisis where locals are experiencing months of shortages of food, fuel and electricity. Inflation has peaked at 57% according to official data. [68] In April 2022, Sri Lanka declared a sovereign default. [95]
[45] [46] By February 2022, the country had only $2.31 billion left in its reserves to repay around $4 billion of debt, including a $1 billion maturing international sovereign bond (ISB) in July. [47] According to official data released by the Sri Lankan government, ISBs accounted for almost half of the country's external debt by the end of ...