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IMF proposes new imputed rental income tax for Sri Lanka

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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.

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Arrested Prisons Chief, remanded (Update)

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Suspended Commissioner General of Prisons – Thushara Upuldeniya, who was arrested by the Criminal Investigation Department (CID) yesterday (June 09) has been remanded until tomorrow (June 11).

The order was issued by Colombo Additional Magistrate Manjula Rathnayake after rejecting a bail application.

The Additional Magistrate had pointed out that the bail request could not be considered at this stage as investigations are still ongoing.


(Previous news 2025 June 10 – 7.09.a.m.)

Prisons Chief Thushara Upuldeniya before Colombo Magistrate’s Court today

The Commissioner General of Prisons Thushara Upuldeniya was arrested yesterday (June 9) over explosive allegations of illegally granting a presidential pardon to a high-profile inmate and is set to appear before Colombo Magistrate’s Court today.

The Criminal Investigation Department (CID) took Upuldeniya into custody following a probe into claims that he abused presidential pardon powers to secure the early release of a prisoner under questionable circumstances.

A police spokesperson confirmed the arrest, stating that Upuldeniya had been questioned for three straight days before being detained. Investigators allege he bypassed legal protocols in facilitating the inmate’s release.

In a dramatic late-night development, the Cabinet—chaired by the President—moved swiftly to suspend Upuldeniya, citing concerns that his continued role could obstruct justice. “This decision ensures investigations remain impartial,” an official statement noted.

Nishan Dhanasinghe, Additional Secretary of the Judicial Ministry’s Prisons Division, has been named acting Commissioner General amid the unfolding scandal.

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SL embassy in Japan holds mobile consular service in Ashikaga (Pics)

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The Embassy of Sri Lanka in Japan recently conducted a mobile consular service in Ashikaga, Tochigi Prefecture, to serve the Sri Lankan community residing in the region. 

During the program, officials from the Embassy accepted passport applications and updated driver’s licenses while providing other essential consular services such as affidavit issuance and passport endorsements. A large number of Sri Lankans were provided such services.
The consular service coincided with the “Vesak Kalapaya” organized by the Ohana Association in Tochigi to mark the Vesak and Poson Poya celebrations. Over 600 beautifully decorated Vesak lanterns were lit, creating a vibrant and spiritual atmosphere that welcomed both Japanese and Sri Lankans to experience the festivities.

An art competition was also held as part of the celebration. Winning children—both Japanese and Sri Lankan—were presented with school bags in recognition of their creativity and participation.

The Most Venerable Mawathare Chandima Thero, the Chief Incumbent of the Tochigi Paramita Meditation Center, and the Most Venerable Narawila Wijayawansa Thero, the Chief Incumbent of the Saithama Kumagaya Anandameth Viharaya, and the Maha Sangha participated in the religious ceremonies on that occasion.

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President joins National Poson Festival in Mihintale (Pics)

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President Anura Kumara Disanayake emphasized that the transformation which took place in Sri Lankan society with the introduction of Buddhism laid the foundation for a disciplined and culturally sophisticated nation.  

The President expressed these views while participating in the National Poson Festival held today (June 10) at the sacred Mihintale temple grounds, organized under the theme “May the world be enlightened by the teachings of the Buddha.”

Highlighting that the arrival of Arahant Mahinda Thero marked a civilizational turning point, President Disanayake questioned how the Poson Festival could be meaningfully celebrated without remembering Mihintale and its profound significance.  

The President highlighted that the spiritual and cultural heritage linked to Mihintale must be preserved and passed on to future generations, a responsibility the State must not ignore.

The President explained that only citizens who are spiritually and culturally grounded who remain connected to the earth and their heritage could truly uphold this responsibility, not those disconnected from reality. He said the government has already initiated a programme to restore and redevelop the ancient city of Anuradhapura in a manner that reinstates its former glory.

The President stated that the foundation for our country becoming a centre of Theravada Buddhist philosophy and tradition was established with the arrival of Anubudu Mihindu Thero in Sri Lanka. This remarkable event, which sparked spiritual enlightenment alongside social transformation, went beyond mere religious significance and enabled the development of more advanced frameworks across all aspects of our nation including cultural, social and political spheres.

President Anura Kumara Disanayake emphasized that the paramount responsibility lies in re-establishing that society on Sri Lankan soil and building a modern, cultured state for the country one that embraces new ethical, social and environmental principles and that this duty must be unwaveringly fulfilled.

The President stated that the government is undertaking the task of reconstructing Anuradhapura, the site of Sri Lanka’s first city, first reservoir, first surgical operation and the great irrigation canals like Yodha Ela, in a manner that restores its ancient heritage.

The President further noted that the Prime Minister of India has already expressed willingness to support this reconstruction initiative under Indian assistance.

Expressing further views on the occasion, President Anura Kumara Disanayake stated:
“Any nation needs a strong foundation to rise. For the Sri Lankan people, that strong foundation has been provided through the philosophy of the Buddha. In a society devoid of education, we cannot expect empowered citizens. More than two thousand years ago, it was Buddhism that introduced a transformative change in education to this country. By transforming temples into centres of learning “Pirivenas” Buddhism played a vital role in imparting not only spiritual guidance but also knowledge to the people. It paved the way for a well-disciplined and cultured social structure. For this immense contribution, the great monastic leaders who served this country throughout its 2,500-year history deserve the nation’s utmost respect and gratitude.

However, today that social structure has collapsed. Some members of the police have reached a point where they protect criminals. Certain officers at the Department of Immigration and Emigration are issuing travel documents illegally. Underworld figures have been granted passports. Some officials at the Department of Prisons have unlawfully released inmates. Even within the Department of Motor Traffic, some officers are engaged in illegal activities. Citizens do not view these institutions with confidence or peace of mind. Therefore, a well-disciplined civic programme must be established to foster a sense of civic responsibility among the people. The Buddhist philosophy can provide essential guidance in this regard.

As a disciplined nation, we are committed to restoring the integrity of these state institutions. We will not abandon this task, but to succeed, we need the cooperation of the general public. We must bring an end to this era of decline and lead the nation towards a victorious, spiritually and materially prosperous way of life. The people must unite to fulfil this vital responsibility”.

For the past two years, the National Poson Festival could not be held with state patronage. However, expressing gratitude for the firm decision taken to once again hold the National Poson Festival in Mihintale, the Chief Incumbent of the Mihintale Rajamaha Viharaya, Most Venerable Dr. Walawahengunawawe Dhammarathana Thero, extended his sincere thanks to the President during the ceremony.

The official welcome and the clarification of purpose were delivered by the Viharadikari of Mihintale, Venerable Surukkulame Indrarathana Thero.

Those in attendance at the event included the Chief Incumbent of Mihintale Rajamaha Viharaya, Venerable Dr. Walawahengunawawe Dhammarathana Thero, Minister of Buddhasasana, Religious and Cultural Affairs, Hiniduma Sunil Senevi,  Minister Wasantha Samarasinghe, Deputy Minister of Religious and Cultural Affairs Gamagedara Dissanayake , Deputy Minister Susil Ranasinghe,  Members of Parliament Sena Nanayakkara, Thilina Tharuka Samarakoon, Bhagya Sri Herath and Anuradhapura District Secretary Ranjith Wimalasuriya, along with a large number of participants.

(President’s Media Division)

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