Briefs from the Numbers.lk desk.
Numbers.lk
⭕ In simple terms, if you had a fixed deposit of Rs. 1 million at an interest rate of 8%, you were originally set to receive Rs. 80,000 per year. ⭕ With the current 5% WHT, you receive Rs. 76,000,...
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*The gov recently decided to auction off 254 ultra-luxury, high-fuel-consumption vehicles from the state fleet – an excellent decision to reduce unnecessary costs.
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⭕ A single coconut now costs over Rs. 200 in many areas. In Matale district, prices range from Rs. 200–Rs. 230. ⭕ Retailers blame a shortage in the local market for the hike. ⭕ Consumers report restricted choices, forced to buy pre-selected coconuts. #SriLanka #Economy
Numbers.lk
were unprecedentedly adjusted to higher interest rates, are still being kept at those higher rates despite the significant drop in policy rates. ⭕️At the same time, banks are reporting record profits, benefiting from these unfair practices at the expense of regular citizens. The...
Numbers.lk
Numbers.lk
collection agency in the country. The statement that "some taxpayers found the underpowered computers unable to cope with concurrent transactions" reflects a misunderstanding of the issue. Concurrency is a backend server-side concern, not something related to the performance of...
Numbers.lk
Numbers.lk
Reality: By law, all individuals aged 18 and above must file tax returns if their annual income exceeds 1.2 million. Not having a Taxpayer Identification Number (TIN) does not exempt you from this requirement. You are expected to obtain a TIN and file your return. If you already have a TIN, filing is mandatory. Even if your income is below the threshold, you must still submit a Nil return.
Numbers.lk
Reality: Banks deduct only 5% as withholding tax on interest income, which is far below many taxpayers' marginal tax rates (e.g., 36%). If your tax rate is higher than 5%, you must pay the difference. Example: If your marginal rate is 36%, you owe an additional 31% on your interest income as taxes. Note: According to our sources, the IRD has already collected WHT deduction information for your FDs and other...
Numbers.lk
Reality: If your employer deducts PAYE (Pay-As-You-Earn) or APIT (Advance Personal Income Tax), it does not exempt you from filing a return. Filing allows you to reconcile taxes paid against your total income, including earnings from interest, investments, or other sources of income.
The Sri Lankan government has lifted the temporary suspension on vehicle imports under Gazette No. 2415-35, effective in phases. ⭕ December 14, 2024: Import of passenger buses and special-purpose...
⭕ Tax-free threshold raised: Rs. 100,000 → Rs. 150,000/month ⭕ First tax bracket: Rs. 500,000 → Rs. 1 million @ 6% rate tax break compared to current taxes according to the president: ⭕ Rs....
⭕ The President's Fund, established in 1978, had clear objectives: Relief of poverty, awards for those who rendered service to the nation etc. ⭕ Today, Minister Nalinda Jayatissa revealed part of...
⭕️The Colombo Stock Exchange continued its post-election bull run, reaching another all-time high today. #SriLanka 🇱🇰 #StockMarket #CSE https://t.co/EXkpV8gQ1F
⭕ Speaker Ranwala failed to provide proof of his Basic Degree and PhD credentials. ⭕ Despite claiming to possess the qualifications, he resigned, citing delays in obtaining the documents. - [ You...
⭕ Almost a decade ago (2013-2014), @dialoglk introduced a Prepaid Travel Card known as the "Touch Travel Card." This card was designed with Near Field Communication (NFC) technology, enabling users...
return for compliant taxpayers: Taxpayer Privilege Cards. It's...
⭕ The gov recently decided to auction off 254 ultra-luxury, low-fuel-consumption vehicles from the state fleet – an excellent decision to reduce unnecessary costs. Here are a few key facts about...
⭕ One of the key issues is, Purchasing naphtha and Furnace oil at inflated prices from CPC without an open tender process. ⭕ According to CEB's submission to PUCSL for the 2025 tariff revision,...
⭕ In 2024, under Ranil Wickremesinghe’s government, up to 80 liquor licenses were issued days before the election, allegedly in exchange for political support. A total of 172 licenses were granted...
⭕ Bitcoin reaches a historic milestone, crossing the $100k mark for the first time ever, trading at above ~$103,000 in every major exchange. #Bitcoin #Crypto https://t.co/x4cnkMbNs4
⭕ Inland Revenue Act mandates filing income tax returns within 8 months of the assessment year-end. ⭕ Original deadline for 2023/24: Nov 30, 2024 (Saturday). ⭕ Severe floods and landslides since...
⭕ Nov 20: The government announced plans to import rice through state entities Sathosa and STC. This approach quickly hit a wall when it became clear these orgs lacked the capacity to handle the...
⭕ Minister Vijitha Herath recently inspected lengthy container queues at Colombo Port, bringing severe inefficiencies to light. ⭕ These queues arise as Customs delays container releases until...
#SriLanka #WeatherUpdate https://t.co/dvTYFa2n9d
⭕ US President-elect Trump has threatened 100% tariffs on BRICS nations if they support a global reserve currency to rival the U.S. dollar. ⭕ The U.S. 🇺🇸 is Sri Lanka's largest export market,...
