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Sajith & Dilith slam 15% Services Export Tax

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Opposition Leader – Sajith Premadasa has slammed the 15% Services Export Tax

Taking to X, he points out that the tax will cripple Sri Lanka’s digital economy and drive talent away.

“IT freelancers & service exporters bring in much-needed forex. Taxing them discourages growth, investment & innovation. At a time when needs to boost exports, this move will push talent overseas—hurting our economy long-term. Instead of taxing dollar earners, the govt should incentivize & support them to boost long term revenue, investments and talent and industry development,” he points out.

Speaking during the Cabinet briefing yesterday (Feb. 25), Cabinet Spokesman Nalinda Jayatissa said that the government has no choice but to implement the Services Export Tax under the current circumstances.

According to reports, the tax, which is to be implemented from April 01, 2025, will affect individuals and companies in Sri Lanka that provide services to external parties and bring back foreign exchange.

Meanwhile, speaking at a media briefing held today (Feb. 26), leader of the Sarvajana Balaya – MP Dilith Jayaweera said that the tax could discourage creative entrepreneurship and drive foreign exchange transactions into informal channels such as ‘Undiyal.

Referring to the February 21 gazette amending the Inland Revenue Act, No. 24 of 2017, he further said that the tax applies to freelancers and professionals, including content creators on YouTube and Facebook, freelance creatives using platforms like Fiverr, and consultants such as doctors, lawyers, and accountants.

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Forests on state lands to be designated as reserves

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The Ministry of Environment has decided to designate several forests located on state owned lands as official forest reserves.

Deputy Minister – Anton Jayakody has stated that such forests, each spanning 05 hectares or more, have been identified in every district.

Special priority will be given to designating forest reserves on mountain peaks.

In the first phase, 20 forests in districts including Monaragala and Ampara have been selected under the new program named ‘Vanaspathi’,  he said.

He further said the initiative aims to protect these forest areas and expand the country’s forest cover.

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No cases filed against 22 banned pyramid schemes – CBSL

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Although the Central Bank of Sri Lanka (CBSL) has banned 22 institutions operating illegal pyramid schemes, no legal action has been taken against any of them so far, according to reports.

This was disclosed during a workshop held at the CBSL yesterday (July 08) on the dangers of pyramid schemes.

According to CBSL officials, after initial investigations, the files were handed over to the Criminal Investigation Department (CID) for further inquiry.

The CID’s Financial Crimes Unit has reportedly completed its investigations and submitted findings to the Attorney General’s Department, which is responsible for filing cases.

However, it was noted that not a single case has been filed to date.

The CBSL states that investigations will be continued against companies engaged in these illegal practices and hopes at least one or two such cases would be filed by the end of this year or early next year (2026).

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NPP’s Nishantha Jayaweera sworn in as MP

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U. D. Nishantha Jayaweera was sworn in as a National People’s Power (NPP) National List Member of Parliament before the Speaker of the House – Dr. Jagath Wickramaratne, today (July 09).

He fills the Parliamentary seat left vacant following the resignation of Dr. Harshana Suriyapperuma last month.

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