News

‘Glorious Church’ in tax controversy

Published

12 months ago

May 21, 2023

editor

The Inland Revenue Department (IRD) this week was scrambling to ascertain whether the ‘Glorious Church’ and its pastor Jerome Fernando, now in the centre of a controversy, were paying taxes to the Government as records, including personal NIC numbers or other details were not available, its officials said.

An official at the Glorious Church, when asked whether the church pays any taxes, promised to get back, but there was no response.

IRD officials pointed out that Mr. Fernando’s Glorious Church management had not been given any tax exemption and that as an individual he had to declare his assets and wealth if there were any, under the Inland Revenue Act.

By tradition, Buddhist temple property was exempt from taxation or any form of revenue collection by the IRD if they were registered by the Govt. as a religious site.

Most of the other places connected to religious work have to pay taxes even if they are registered because exemption from taxes came under a certain ordinance and these institutions were not included in it, IRD officials confirmed.

Catholic Church officials were not available for comment. Officials of other Christian denominations said that while donations were exempt from taxes, income derived by the church was subject to taxes.

(sundaytimes.lk)

News

Concessionary vehicle import permits granted to retired government & judicial officials

Published

13 hours ago

May 5, 2024

editor

Senior government and judicial officials who have retired on completion of 60 years of age and those who were sent on compulsory retirement without extension are eligible to obtain a vehicle import permit under concessionary rates of duty.

This was according to a circular issued by the Public Administration, Home Affairs, Provincial Councils and Local Government Ministry.

Officers who have retired on completion of 60 years of age during the period from extending the age of compulsory retirement to 65 years and reducing the age of compulsory retirement to 60 years introduced by the Ministry in 2022 are eligible for the permits subject to other requirements as set out in the regulations.

The decision to grant vehicle import permits for retired senior government officials came following a Cabinet decision on March 11.

Among the eligible officials are retired officials from Class I of an All Island Service or a Departmental Service, Special Grade of Government Registered and Assistant Medical Officers’ Service, Government Dental Surgeon in Grade I and retired senior judicial officers.

The circular dated April 25 was issued by Secretary to the Ministry Pradeep Yasarathne. The Secretary was unavailable for comment yesterday.

(sundaytimes.lk)
(Except for the headline, this story, originally published by sundaytimes.lk has not been edited by SLM staff)

News

SLC doubles test players’ payments to boost morale

Published

14 hours ago

May 5, 2024

editor

Sri Lanka Cricket (SLC) has announced a significant increase in payments for Sri Lanka’s Test players, effectively doubling their compensation.

The decision, made by SLC, is aimed at fostering greater enthusiasm among Test players and emphasizing the importance of Test cricket, the governing body stated.

The increased payments will be implemented based on the match contracts of each player, in accordance with SLC guidelines.

As a result of this adjustment, the total payment for a Test player per international match will now amount to approximately USD 15,000, which is around Rs. 4,450,000.

News

India to cover tax costs for Sri Lanka-India passenger ferry service

Published

15 hours ago

May 5, 2024

editor

The Government of India has decided to bear the cost towards applicable taxes and other charges to the tune of over LKR 25 million per month for a period of one year for the passenger ferry service between Nagapattinam in India and Kankesanthurai (KKS).

The passenger ferry service, which was launched in October 2023 by the Shipping Corporation of India (SCI), will tentatively resume on May 13, 2024. It will be operated by a private operator, IndSri Ferry Services, selected by SCI in consultation with the Government of Sri Lanka (GOSL).

In order to make the service affordable and attractive for passengers, the Government of India has decided to bear the cost towards applicable taxes and other charges to the tune of over LKR 25 million per month for a period of one year.

Similarly, the GOSL has reduced the deviation tax currently charged from passengers leaving Sri Lanka by passenger vessels and ships.

It should be recalled that the Government of India has also extended a grant assistance of USD 63.65 million to the GOSL for the rehabilitation of the KKS Harbour, which was earlier envisaged to be undertaken under a Line of Credit.

(dailymirror.lk)
(Except for the headline, this story, originally published by dailymirror.lk has not been edited by SLM staff)