Finance Minister Has Suggested To Abolish Super Gain Tax

Finance Minister Ravi Karunanayake has  suggested through the 2016 Annual Budget presented to Parliament yesterday(20) to abolish the Super Gain Tax and to provide 50% tax reduction for foreign investments generating 500 jobs.

The Minister has also suggested to bring laws to protect both local and foreign investors  .

More Budget Proposals From 2016 Annual Budget

*A Five Day working week for Employees of Private Sector(At present working week for private sector employees is five and half days)

*Value Added Tax(VAT) threshold revised to Rs.12 million per year

*Other than Manufacturer and Importer Wholesale and Retail Traders excluded from VAT

*2.5 % Withholding Tax deducting by Banks or Financial Institutions on interests from deposits to be removed

*Annual Tax on Betting and Gambling will be increased to Rs.400 million

*Taxes imposed on English Films and Advertisements will be removed

*50% tax holiday for those involved in Mice Tourism for five year period

*7500 seat state of art convention center to be build in Colombo

*Three domestic Air Ports to be build in Degana,Badulla and Puttalam Areas

*The 9 US Dollar Cents charging per every minute for foreign calls received to phones will be reduced to 3 US Dollar cents

*Tile Industry to be free from tax for three year period

*Those who are paying annual income tax exceeds Rs.25 million will be provided with special facilities like VIP Facilities at Air Port,Invitations to attend state functions,allow to meet President and Prime Minister and given priority at state institutions

*To build skills of Parliamentarians a sum of Rs.50 million will be allocated

*Suggesting Ceylon Transport Board (CTB) to examine the ways of building buses locally for CTB with corporation of other local manufacturing  institutes

*Mattala Air Port to be convert to Air Luggage Operating Center and tax concessions will be provided for the activities of Air Port

*To convert all Local Universities to WI FI Zones Rs.300 million will be allocated

*Rs. 500 million will be allocated to develop Galle Fort

*Import Taxes imposed on 15 items including cloths,shoes and electrical appliances will be removed

*Tax Concession for newly build hotels

*A programme will be implemented to encourage people on using solar power 

THOUGHT OF THE DAY

SINHALA QUOTE FROM THE WEB

Hasitha Thilakaratne Has Appointed As New Chairman Of Consumer Affairs Authority

The Government has appointed Hasitha Thilakaratne as the new Chairman of Consumer Affairs Authority of  Sri Lanka with immediate effect.

He will  replace Dr.R.M.K Ratnayake who was the previous chairman of Consumer Affairs Authority.

The new chairman has been previously  served as Chairman Of Laksala and National Gem And Jewelry Authority.

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....

* 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.


*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.

SINHALA QUOTE FROM THE WEB

THOUGHT OF THE DAY

Administrative Activities Of The Health Ministry Are Being Collapsed Due To The Foreign Tour Mania Of Higher Ministry Officials

The Administrative Activities of the Ministry Of Health ,Nutrition And Indigenous Medicine are being collapsed  at the moment  due to the absence of higher Ministry Officials who are travelling abroad frequently according to Ministry Sources.

Most of these higher officials attach to the Health Ministry are going abroad as small groups and due to this activities of most sections in the ministry have been paralyzed the sources have said."Some Higher Officers are been in abroad most of the time this year more than staying in Sri Lanka " one of the senior officers attach to the Ministry has said.

A female Deputy Director General Of Health Services who has been appointed to the planning section six months ago has went abroad 13 times this year up to now the officer has stressed.

Due to the foreign tour  mania of these Health Ministry Higher Officials sometimes its hard to find  a single officer to solve problems of the public during Public Day held on every Wednesday .

At present two Deputy Director General of Health Services and Director General Of Health Services are touring abroad.

A FAMOUS UNTITLED ABSTRACT ART WORK OF YESTERYEAR RUSSIAN ARTIST WASSILY KANDINSKY(1866-1944)

THIS COLORFUL ABSTRACT ART WORK WAS PAINTED BY RUSSIAN INFLUENTIAL ARTIST WASSILY KANDINSKY. 

Police Have Detained 9 Persons Who Dumped Waste Matter In To The Kelaniya River

Police have today(19) detained 9 persons including 5 females who dumped waste matter in to the Kelaniya River(In Western Province).

The Police Naval Division Officers have detained  these persons who dumped waste matter in to the river at Nelligahawatte Area in Paliyagoda(Western Province).

However Police have released the detainees on police bail and they are due to be produced before Wattala And Hulftsdorf Courts.

LYRICS OF THE SONG SUNG BY SRI LANKAN SINGER AMARASIRI PIERIS ON KALA WEWA(RIVER)