Friday, November 20, 2015

Taxes Of Leasing Lands in Sri Lanka to Foreigners Will Be Removed -Finance Minister Ravi Karunanayake

Finance Minister Ravi Karunanayake had suggested through today's Budget Proposals  to remove the Taxes imposed on Foreigners for leasing lands in Sri Lankan Soil.

Tax Exemptions will be afforded for new direct foreign investments according to Finance Minister.

The Finance Minister has also suggested to allocate Rs.10 Billion for Digital Identity Card Scheme due to be implemented for all Sri Lankan Citizens from next year.




A FAMOUS LANDSCAPE PAINTING (1850-52)OF YESTERYEAR ITALIAN ARTIST GIOVANNI COSTA (1826-1903)


THIS POPULAR YESTERYEAR LANDSCAPE PAINTING WAS DONE BY YESTERYEAR ITALIAN LANDSCAPE PAINTER AND PATRIOTIC REVOLUTIONARY GIOVANNI COSTA .HE IS ALSO KNOWN AS NINO COSTA.



Few Other Proposals Suggested Through Today's Budget....

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* The Fee for obtaining a Passport under one day service will be increased From Rs.7500 to Rs.10,000 and the fee charge  for Dual Citizenship Applications will be increased from Rs.250,000 t0 Rs.300,000

* A Housing Scheme will be implemented for low income group especially for slum dwellers to build 100,000 houses within a 5 year period

*Vehicle permits granted under different schemes for Government Sector including Parliamentarians suggested to be abolished 

*A Sum of Rs.21,000 Million is to be allocated to create Proposed Cluster Village System in view of uplifting the rural economy.Under this a sum of Rs.1500 Million will be allocated per village.

*A three year interest free Loan Scheme to be implemented for University Students to purchase Laptop Computers

* Small Scale Farmers will be given a Money Voucher worth Rs.25,000 per one Hectare of Cultivated Land to purchase Chemical Fertilizer or suitable fertilizer replacing the Fertilizer Subsidy given earlier




POPULAR YESTERYEAR SINHALA SONG SUNG BY LATE VISHARADA MALANI BULATHSINGHALA


Some of the Key Proposals Suggested Through the 2016 Budget

Some of the Key Proposals suggested through the 2016 Budget are as follows.
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*Government will open Bank Savings Accounts for all School Going Children numbering 4.5 million  from Next year with a sum of Rs.250 per account to create Money Saving Culture among School Children

* Private sector has been encouraged to offer Rs.2500 salary increase given to government employees for their employees too

*Rs.30,000 Million has been suggested to be allocated to uplift 1300 abandoned schools in the country

*Suggested a minimum wage of 300 US Dollars for  Employees going Abroad

*A new law system will be introduced to strengthen Pension Fund

*A new Pension Scheme for new workers joining government sector on 2016

*Import Tax imposed on all imported Books and Magazines will be withdrawn

*Suggested to increase the number of Police Stations of the country from 428 to 600 stations

*Three New Cancer Hospitals to be situated in Nallur,Kandy and Matale Districts

*A  special hospital with Kidney Treatment  facilities to be built in Minneriya Area (North Central  Province ) and Government will built 1000 Dialysis Centers in view of benefiting the patients with Chonic Kidney Disease that spreading most parts of the country at present.

A New university call "Mahapaola Univeristy to be set up 

For the Education Sector a sum of Rs.90,000 million has been suggested to be allocated and the money allocated for University Education is to be increased by 30%.



More Concessions Offered For Consumers Through 2016 Budget Proposals


More Concessions offered to Consumers through the 2016 Annual Budget Proposals Are as follows.

Accordingly prices of 10 Essential Goods have been suggested to be decreased.They are -

* Price of Infant Formula Milk Powder has been reduced by Rs.100

* Price of a 12.5 KG Gas Cylinder has been reduced by Rs.150

*Price of a Kerosene Oil has been reduced by Rs.10 per liter

*Maximum Retail Price set for  Dhal is  Rs.169 per Kilo

*Maximum Retail Price set for Chickpea is Rs.169 per Kilo

*Maximum Retail Price set for Dried Fish Katta is Rs.1100 per Kilo

*Maximum Retail Price set for Dried Fish Salaya is Rs.425 per Kilo

*Maximum Retail Price set for Sprats is Rs.410 per Kilo

*Special Tax imposed on Imported Potatoes and Big Anions has been reduced by 25%



Concessions For Consumers ,Small/Medium Entrepreneurs And Fishermen From 2016 Budget Proposals

*A Certified Price is set for a Killo Of Rice as Rs.65  (Keeri Samba-Rs.50, Samba-Rs.41,Nadu-Rs.38)

*The Price Of 400 Grammes Pack of Locally Manufactured Milk Powder reduced by Rs.30(From Rs.325 to Rs.295)
consession
*Two Year tax relief for Rubber Industry

*Rs.One Million Insurance Scheme for local fishermen 

*Ra.750 Million allocated for upgrading fisheries harbors

*Fifty Licenses to be issued to Gold Importers to import Gold sans import duty(no one will allow to import Gold without such license)

*The income tax of Micro,Small and Medium Entrepreneurs to be reduced by 50% for first five years with effect from 01st Of April 2016

Says Finance Minister Ravi Karuananayake by presenting the 2016 Annual Budget Proposals to the Parliament short while ago.

Government Will Not Remove Officials Ravi Seneviratne And Shani Abeysekare- From Their Posts-Minister Vijitha Herath

 Government will not remove the Secretary to the Ministry Of Public Defense , former Deputy Inspector General Of Police Ravi Seneviratne and...