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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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