Daily News Online

Wednesday, 19 May 2010



Two Budgets for 2010/11:

Simple tax scheme soon

The Government will soon formulate a simple tax procedure, which will address loopholes in the existing tax structure. Deputy Finance Minister and Senior Presidential Advisor Dr Sarath Amunugama will chair a committee which will look at all rules and regulations and formulate a simple tax procedure closing all loopholes in the existing system.

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Hayleys posts highest ever profits in history

Profit after tax exceeds Rs 2,637 million:

Hayleys Group has achieved exponential growth in all key performance indicators in 2009-10 establishing record figures for revenue, profit and investment in a remarkable year of milestones. According to figures released to the Colombo Stock Exchange, the blue chip conglomerate’s profit before tax more than doubled to Rs 3,351 million in the 12 months ending March 31, 2010, while profit after tax tripled to Rs 2,637 million.

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Customs, Central Bank join to curb money laundering

Central Bank’s Financial Intelligence Unit signed a Memorandum of Understanding with the Sri Lanka Customs Department. This aims to share information to facilitate investigation and prosecution of persons suspected of money laundering and terrorist financing.

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Deputy Finance Minister Dr Sarath Amunugama

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