The Bank of Ceylon’s (BOC) Long-Term Foreign-Currency Issuer Default Rating (IDR) has been updated to ‘CC’ from ‘RD’ (Restricted Default). 

A Circular has been issued exempting employees from paying personal income tax on non-cash benefits such as vehicles, fuel allowances, housing and medical benefits provided to employees at their places of employment.

The outstanding Central Government debt has increased to Rs. 25.5 trillion by end November 2022 from Rs. 17.59 trillion from end 2021. This reflects an increase of Rs. 7.93 trillion or 45%, partly influenced by the devaluation of the rupee last year.

Dhammika Samarawickrama, Member of the Industry Commission and Chairman of the Advisory Council of the Ministry of Industry (Electronics and Electrical) said that Sri Lankan exporters have brought in US$ 422 million to Sri Lanka last year by sending electronic and electrical equipment abroad amid...