State Minister of Foreign Affairs Tharaka Balasooriya said on his visit to Myanmar, he came to know that more than 100,000 youth from different countries are forcibly housed in the cyber camps in Myanmar, and 53,000 of them are Chinese nationals.

He was speaking to reporters at the Bandaranaike International Airport yesterday after completing an official visit to Myanmar and Thailand.

State Minister Balasooriya said, “We are confident that the 49 Sri Lankans who are forcibly held in cyber camps in Myanmar will be freed in the near future.” In addition to his visit to Myanmar, the State Minister also visited Thailand and discussed bilateral issues with the Deputy Prime Minister, Minister of Foreign Affairs, Minister of Justice and Home Affairs, as well as several Non-Governmental Organisations. They also discussed the forcible holding of youth from different countries in the cyber camps in Myanmar. They agreed that regional Governments should work together to secure their release.

(sundayobserver.lk)

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

The International Monetary Fund (IMF) has proposed the introduction of an imputed rental income tax on owner-occupied and vacant residential properties in Sri Lanka, to be implemented by April 1, 2025. 

This recommendation comes as part of the IMF’s latest report on Sri Lanka, highlighting the need for sustained revenue mobilization efforts amid institutional challenges that hindered the initially planned property tax for 2025.

The IMF report emphasizes the importance of establishing a comprehensive property valuation database by August 2024, which will include assessed values, the latest assessment dates, and property types for all municipal councils. 

This database is a crucial step towards the effective implementation of the new tax.

Additionally, the report calls for the full operationalization of a nationwide digital Sales Price and Rents Register (SPRR) by the end of March 2025. 

This register will be accessible by the Inland Revenue Department (IRD), the valuation department, the land registry, and the public, serving as a key resource for assessing property values and the imputed rental income tax.

The IMF recognizes ongoing vulnerabilities and uncertainties in Sri Lanka, particularly concerning debt restructuring and the upcoming elections. 

The IMF directors have urged Sri Lankan authorities to continue strengthening macroeconomic policies to restore economic stability and debt sustainability while maintaining the momentum of reforms to promote long-term inclusive growth.

In support of Sri Lanka’s economic policies and reforms, the IMF Executive Board has completed the 2024 Article IV Consultation and Second Review under the 48-month Extended Fund Facility. 

This completion provides Sri Lanka with immediate access to SDR 254 million (approximately USD 336 million).

Moreover, the IMF has highlighted the importance of enacting the Asset Recovery Bill, following necessary public consultations, by November 2024. This bill is expected to play a significant role in enhancing fiscal responsibility and transparency within the country.

The draft constitution for the Sri Lanka Cricket Board, prepared by the Judge Chitrasiri Committee, was presented to President Ranil Wickremesinghe at the Presidential Secretariat today (15). 

The draft was handed over by Committee Chairman, retired Supreme Court Judge K.T. Chitrasiri, alongside other committee members.

The initiative to address challenges faced by Sri Lanka Cricket and provide suitable recommendations led to the appointment of a Cabinet Sub-Committee on November 6, 2023. 

Chaired by Minister of Foreign Affairs and President’s Counsel Ali Sabry, the sub-committee included Minister of Power and Energy Kanchana Wijesekara, Minister of Labour and Foreign Employment Manusha Nanayakkara, and Minister of Public Security Tiran Alles.

After extensive discussions with stakeholders involved in cricket, the sub-committee presented its report to the Cabinet on January 8, 2024.