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Top EconomyNext News
Cricket · ColomboECONOMYNEXT – Three key Sri Lankan business chambers have challenged a decision by the Inland Revenue Department (IRD) to remove Simplified Value Added Tax (SVAT) for exporters without having a proper refunding mechanism. The Free Trade Zone Manufacturers’ Association (FTZMA), together with the National Chamber of Commerce of Sri Lanka (NCCSL) and the Sri Lanka Chamber of Small and Medium Industries, has filed a writ application before the Court…See the Story
Sri Lanka biz chambers go to court against SVAT removal
Cricket · ColomboECONOMYNEXT – Sri Lanka’s Commission to Investigate Allegations of Bribery of Commission is unable to carry out its functions after the Finance Ministry blocked its attempts to recruit staff citing fiscal rules, Director General Ranga Dissanayake said. The is getting thousands of complaints but only has 169 investigations officers and out of a requirement of 75 legal officers only 31 were available. The CIABOC needs around 967 staff but the Trea…See the Story
Sri Lanka anti-corruption commission blocked by Treasury fiscal rule
Cricket · Sri LankaECONOMYNEXT – Fitch Ratings has confirmed Sri Lanka’s CCC+ sovereign rating saying external finances are stable, and growth is resuming despite US tariffs. “We expect full-year growth at 4.4 percent, with 3.8 percent in 2026 and 3.6 percent in 2027,” the rating agency said. “US tariffs will be a growth headwind, but the revised reciprocal tariff rate of 20 percent is now in line with peers, reducing risks to exports. “We see low average inflatio…See the Story
