Former Minister S.M. Chandrasena, who was arrested by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) earlier today (July 04), has been remanded until July 18th.

(Previous news 2025 July 04 – 10.49.am)

Ex-Minister S.M. Chandrasena arrested

Former Minister – S.M. Chandrasena has been arrested by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) a short while ago.

Chandrasena had appeared before the CIABOC today (July 04) to record a statement.

The Central Bank of Sri Lanka (CBSL) has initiated resolution action against Nation Lanka Finance PLC (NLFP), effective from today (July 04) due to continuous violations of the Finance Business Act No. 42 of 2011 and related regulatory directives. 

The company has been facing a deteriorating financial position marked by capital deficiencies, poor asset quality, ongoing losses, and failure to repay depositors.

A dedicated VAT refund facility for tourists was officially launched today (July 04) at the Bandaranaike International Airport (BIA) by Minister of Industries and Entrepreneurship Development – Sunil Handunneththi and Minister of Labour and Deputy Finance Minister – Anil Jayantha.

This new service, established by the Inland Revenue Department, allows eligible foreign tourists to claim back the Value Added Tax (VAT) paid on purchases made during their stay in Sri Lanka. 

It stems from a policy proposal submitted to the President on March 14, 2025, by officials of the Gem and Jewellery Authority and the Ministry of Industries.
To qualify for a refund, tourists must have spent over 90 days in Sri Lanka and paid VAT exceeding Rs. 50,000.

The move aims to incentivize the purchase of Sri Lankan products by international visitors and improve the efficiency of tax collection. Officials highlighted that this step is expected to boost both the local retail sector and tourism.

Gem and Jewellery Authority Chairman Navin Suriyarachchi and representatives from the Inland Revenue Department were also present at the launch. A media briefing will soon be held to raise awareness among local businesses and tourism stakeholders.