News

European Commission proposes 4-year extension to GSP+

Published

11 months ago

July 19, 2023

editor

The European Commission has proposed a four-year extension to the current GSP+ scheme until 31 Dec 2027, so that countries, such as Sri Lanka, do not lose their preferential access in the interim.

The proposed extension is a result of ongoing negotiations between the co-legislators of the European Union regarding the new GSP+ arrangement, the Delegation of European Union to Sri Lanka said.

The extension of the tariff facility will grant Sri Lanka continued access to the EU markets with the same obligations under 27 international conventions, it added.

🧵-1/3: Did you know that the current GSP+ scheme is set to expire on 31 Dec 2023?

As one of Sri Lanka’s largest trading partners, w/ nearly EUR 3.2 billion worth of Sri Lankan #exports to the 🇪🇺 in 2022 alone, we recognise the importance of GSP+ for Sri Lankan exporters.
— EU in Sri Lanka (@EU_in_Sri_Lanka) July 19, 2023

2/3: As negotiations for our new GSP+ arrangement are still ongoing between the EU’s co-legislators, the European Commission has proposed a 4⃣-year extension to the current scheme until 31 Dec 2027 so that countries like 🇱🇰, don't lose their #preferential access in the interim.
— EU in Sri Lanka (@EU_in_Sri_Lanka) July 19, 2023

3/3: For 🇱🇰, the GSP+ extension proposal means that, for now, nothing changes – same access to 🇪🇺 market and same obligation to comply with the 2⃣7⃣ international conventions, which are key to ensuring that #economicrecovery is not just fast, but also #fair, #just, and #green.
— EU in Sri Lanka (@EU_in_Sri_Lanka) July 19, 2023

News

Railways trade union action called off

Published

2 hours ago

June 18, 2024

nipuni

The Sri Lanka Railways Station Masters’ Union (SLRSMU) has decided to call off their planned trade union action as their demands are being reviewed by the Public Service Commission.

The Commission is expected to announce its decision by Thursday (20). Meanwhile, train operations are continuing as usual today, according to the SLRSMU.

News

Proposal to extend attorney general’s term defeated

Published

3 hours ago

June 18, 2024

nipuni

A proposal by President Ranil Wickremesinghe to extend Attorney General Sanjay Rajaratnam’s term by another six months was defeated at the Constitutional Council meeting.

News

Even first properties are to be taxed – Harsha

Published

6 hours ago

June 18, 2024

nipuni

Samagi Jana Balawegaya MP – Harsha de Silva says that taxes are to be imposed even on first properties according to IMF conditions, despite what the President says.

Speaking in Parliament today (June 18) on the proposed Imputed Rental Income tax, he said that he would be delighted if the President would decide to scrap it.

However, he pointed out that Minister Bandula Gunawardena has emphasised that conditions of the IMF agreement are set in stone.

MP de Silva further noted that this unfair taxation system would be amended under the new government which will come into power in the next 04 months.

Speaking in Parliament earlier today on the introduction of the Imputed Rental Income tax, President Ranil Wickremesinghe had assured that the first property would be exempted from taxation.

He also added that it is intended to focus on high-net-worth individuals and not on average-income earners.

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