Inland Revenue Department (IRD) officials have called on Finance Minister Basil Rajapaksa to reduce the period for the proposed tax amnesty for undisclosed income, warning that the government could lose a revenue of up to Rs 300 billion.

The state ministry of Provincila councils and Local Government (LG) has taken steps to intitiate 544 projects by local government bodies at a cost of Rs. 3,085.96 million for the provision of public services.

The Cabinet of Ministers this week reached a decision to remove all import taxes on milk powder to resume milk powder imports to the country while maintaining the controlled prices unchanged in the local market.

Declaring the proposed West Container Terminal (WCT) at the Colombo Port a Strategic Development Project, the Government of Sri Lanka has agreed to grant a 25-year tax holiday to India’s Adani Group and its local partner, John Keells H...