Port City Fuc**ed by IMF?

[Nanosudha]

Sri Lanka has halted giving tax breaks under the Port City Act and the Strategic Development Project Act and pledged to amend the laws to define rule-based criteria and reduce the length of tax holidays, under an International Monetary Fund program.

Source: https://economynext.com/sri-lanka-h...s-laws-to-be-changed-in-imf-benchmark-228557/

IMF

35. Strengthening our tax exemptions framework.

To minimize revenue losses and curb corruption risks, since December 2023, we are no longer providing any tax exemptions or incentives or approving new projects under the Strategic Development Projects (SDP) Act. Despite a similar commitment to refrain from exemptions under the Port City Act, between January and September 20, 2024, Business of Strategic Importance (BSI) designations granting tax exemptions to 24 companies (four as Primary Businesses, three as Duty Free Businesses, and 17 as Secondary Businesses) were gazetted without consulting IMF staff. The gazettes granting these exemptions are available on the Port SRI LANKA INTERNATIONAL MONETARY FUND 73 City Public Register. Additionally, land lease payments and deposits from four other pending applications (for Primary Businesses) have been accepted (Annex II). Given these advanced financial arrangements, we will need to provide the exemptions to these four businesses based on a detailed costs to benefits review.

However, we commit to not provide any further Business of Strategic Importance status and corresponding tax exemptions to any other businesses under the current Port City Act and regulations. To support our commitment, a new continuous SB will be added to the program on not granting new tax exemptions based on the existing Port City and SDP Acts. The abovediscussed pending applications will be carved out of this continuous SB. All further applications including those in pending stages will be considered under the amended Port City Act and regulations which will be in line with IMF TA and in coordination with IMF staff. The continuous SB will be removed in consultation with IMF staff upon successful amendments to the SDP and Port City Acts and regulations. We also commit to provide monthly data to the IMF team on the list of all firms receiving new exemptions under both Port City and SDP Acts.

Going forward, we will submit to Parliament by end-August 2025 amendments to the SDP Act, consistent with IMF technical assistance, that will introduce transparent, rules-based eligibility criteria to increase the effectiveness of granted tax incentives and to limit the duration for which incentives can be granted (SB). We will submit to Parliament, by end-October 2025, amendments to the Port City Act, based on IMF technical assistance, that introduce transparent, rules-based eligibility criteria, to increase the effectiveness of granted tax exemptions in line with best practices, and to limit the duration for which incentives can be granted (new SB). These amendments will also ensure a robust enforcement of the rules on limiting investments into Port City projects to new foreign direct investment. We will also continue to publish, on the designated websites (Promise and MOF) on a semi-annual basis all required documents stipulated in the SB and also publish the improved annual tax expenditure statement incorporating recommendations from IMF technical assistance by November 2025.

 

[Mahesh Wanasinghe]

 

[Tonto]

Dan IMF wage mehe government karanne.. fully dominated. Even Ranil never acted so.

 

[EVC]

good old days ban
lanka is fucked up

 

[Gwynbleidd]

Mamath dan kiyewwa oka, api port city move wenna inne me year eke. Tax natuwa padi ganna wenne na dan

Imf eken 2.1B d koheda neda denawa keewe? Eelga wariken eka iwarai? Ethkota un yanawada???

 

[Nanosudha]

Mamath dan kiyewwa oka, api port city move wenna inne me year eke. Tax natuwa padi ganna wenne na dan

Imf eken 2.1B d koheda neda denawa keewe? Eelga wariken eka iwarai? Ethkota un yanawada???

Unta api gewana km sin eka tiyeyi bn. Hebai meken godak IT companies mehe operation shutdown karai

 

[tharakaf]

Mamath dan kiyewwa oka, api port city move wenna inne me year eke. Tax natuwa padi ganna wenne na dan

Imf eken 2.1B d koheda neda denawa keewe? Eelga wariken eka iwarai? Ethkota un yanawada???

යන සීන් එක මම දන්නෙ නෑ, ඒත් උන්ගෙ එකෙන් පිට පැන්නොත් dept restructuring වලට ප්‍රශ්නයක් වෙයිද දන්නෙ නෑ. අනික දැන් මහින්ද සිරිවර්දනයා නෑ. අර වටපඩය ඉන්නෙ. මුන් ලෙසටම ඕක නාගනිද දන්නෙ නෑ.

 

[olu bakka]

Mamath dan kiyewwa oka, api port city move wenna inne me year eke. Tax natuwa padi ganna wenne na dan

Imf eken 2.1B d koheda neda denawa keewe? Eelga wariken eka iwarai? Ethkota un yanawada???

උන් අපිට නීති දාලා නෑ බන්. උන් කියන විදිහටම කරන්න ඕනෙ කියල එකකුත් නෑ. ඒත් ඔතන වෙන්නෙ උන් කියන විදිහට කරොත් තමා උන් debt සමබන්ධව assurance එක ගන්නෙ. IMF එක assurance ගත්තම අනිත් රටවල් IMF එක trust කරල තමයි අපිට loan දෙන්නෙ සහ debt restructuring කරන්නෙ. ප්‍රශ්නෙ තියෙන්නෙ අපි IMF එක කියන උපදෙස් වලට කරේ නැත්තන් ඒ assurance එක හම්බෙන් නෑ. එතකොට මොන රටක්වත් අපිට debt සම්බන්ධව උදවු කරන් නෑ.

 

[CustomerSupport]

Hodai. IT firms port city eka udun dala tax gewanne nathuwa hitiya.

Anith eka IT firms oya kiyana widihata lankawen yanne na. USD 2,000 witharai salary dunnata Europe/l, especially US walata wada lankawara outsource karana eka eth labai

 

[ozykolla]

එක රටක්
ටැක්ස් දෙකක්

 

[bambuwathamai]

Can a bankrupted country afford to give tax breaks?

Giving tax breaks, writing off bad loans for Ranils buddies like daya gamage WAS one of the reasons why country went bankrupted in the first place

Oh well, another day, another "mata seeya oney" post by a pitiful lamb

 

[Draco Malfoy]

oka witharak neme 3.7B China Oil refinery ekatath un 25yrs tax break illanawa but imf nisa eka denna ba. ekath bohowita nathi wei.

 

[dinuksha_asela]

Yes this is true.. IMF eka push karanawa Tax break ain karanna.. IMF ekata oni Government income eka wadikaranna unge spending wadi nisaa.. Spending wadi = Aswasuma, Maintaining Sri Lankan Airline, Maintaining other loss making SOEs like CEB, Waterboard, CTB Railway Department Etc.. thawa godak thiyenawa. Sad ucking truth!

 

[Nanosudha]

Anith eka IT firms oya kiyana widihata lankawen yanne na. USD 2,000 witharai salary dunnata Europe/l, especially US walata wada lankawara outsource karana eka eth labai

tikak innako

 

[monson]

Govt. will implement IMF proposals to the letter despite any public protest, political pressure: Lalkantha​

July 5 (Daily Mirror) - Minister of Agriculture, Land, Irrigation and Livestock Development K.D. Lalkantha asserted that the government would comply with the IMF programme regardless of public protests.

Making remarks to the press after attending the meeting of the Kandy District Coordinating Committee, he said that the government had already been implementing the programmes proposed by the IMF and that it would continue to do so.

“We are with the IMF programme. The government is not prepared to sabotage it. The government is achieving the targets as agreed with the IMF. It has been a complete success. The rest of the proposals will be fulfilled. We have to start debt servicing after 2028,” he said.

“The government will not change its decisions under pressure from the Leader of the Opposition, public agitations or strikes. If required, the government will increase or reduce prices in keeping with the relevant formula. We will not succumb to pressure from the Opposition Leader, public protests or strikes, nor hesitate to take vital decisions and allow the forward march of the country to stall,” he said.

- https://www.dailymirror.lk/breaking...otest-political-pressure-Lalkantha/108-313430

 

[Rick Sanchezz]

Dan IMF wage mehe government karanne.. fully dominated. Even Ranil never acted so.

Ranil newei Sakkaraya awath goda yanna be without IMF now. poddak meka ahala balapan.

 

[luk3r]

Jeppo Failed!

 

[samruka]

Govt. will implement IMF proposals to the letter despite any public protest, political pressure: Lalkantha​

July 5 (Daily Mirror) - Minister of Agriculture, Land, Irrigation and Livestock Development K.D. Lalkantha asserted that the government would comply with the IMF programme regardless of public protests.

Making remarks to the press after attending the meeting of the Kandy District Coordinating Committee, he said that the government had already been implementing the programmes proposed by the IMF and that it would continue to do so.

“We are with the IMF programme. The government is not prepared to sabotage it. The government is achieving the targets as agreed with the IMF. It has been a complete success. The rest of the proposals will be fulfilled. We have to start debt servicing after 2028,” he said.

“The government will not change its decisions under pressure from the Leader of the Opposition, public agitations or strikes. If required, the government will increase or reduce prices in keeping with the relevant formula. We will not succumb to pressure from the Opposition Leader, public protests or strikes, nor hesitate to take vital decisions and allow the forward march of the country to stall,” he said.

- https://www.dailymirror.lk/breaking...otest-political-pressure-Lalkantha/108-313430

Good, so many hope to go back to thel polim ne

 

[NEMISIS]

Tax breaks දීපු ගමං සිංහලු Missuse කරන්න ගන්නවානේ
දැන් ඔය පෝට් සිටි එකේ ටැක්ස් නැති කරපු ගමන් සමහර කම්පැනි කරේ ලංකාවෙ තියන කම්පැනියම පෝට්සිටියට ගෙනිහින් tax benefit එක විතරක් ගන්න හදනවා
ඇත්තටම tax break එක වටින්නෙ එකනිසා කවුරු හරි පිටරටින් ඇවිත් එතන බිස්නස් එකක් ඇරලා සිංහලුන්ව හයර් කරන එකනේ.

ලංකාවෙන් කම්පැනි අයින් කරන් යනවා අයින් කරන්න යනවා කිවුවට කවුරුවත් අයින් කරන් යන්නෙ නං නැහැ.
කම්පැනි ලංකාවෙන් එලියට අරගෙන යන එක ලේසි නැහැ. ගොඩක් IT කම්පැනි වල සල්ලි සේරම ලංකාවට ගේන්නෙ නැහැනේ, උන් ගේන්නෙ මෙහෙ සැලරි සහ ඔපරේශන් වලට ඕන සල්ලි විතරයි, ඒක නිසා බිස්නස් ටැක් වැඩි වෙන එක ලොකුවට කම්පැනියට අදාල නැහැ ඒවයෙ ප්‍රොෆිට් Singa/Dubai/US වල තියාගෙන ඉන්නෙ
මම වැඩ කරපු කම්පැනි වල වෙන රටවලින් ඩිවලොපර්ස්ලා ගන්න ට්‍රයි කරාට ඒක අමාරුයි. සමහර රටවල labour law පට්ට වෙනස් නෝටිස් පීරියඩ් එක සති 2යි, පරොබේශන් මාස 2ට වඩා තියන්න බැහැ වගේ ඒව තියනවා. ඒව නිසා ලංකාවට වඩා අඩු ස්කිල් එකක් තියන ඩිවලොපර්ස්ලාගෙ සැලරි වැඩියි. අනික outsource ප්‍රොජෙක්ට් කරද්දි සති දෙකේ වගේ නෝටිස් පීරියඩ් එක්ක කරන්න බැහැ.
ලංකාවෙ සැලරි අඩු එක තමයි ලොකුම හේතුව, ලංකාවෙ සැලරි ස්කේල් එකට වැඩ කරන එවුන් ඉන්නෙ ලංකාව, ඉන්දියාව, පකිස්තානෙ, බංගලාදේශෙ තමයි ඔය හැම රටකට වඩා ලංකාව තියං ඉන්න එක හොඳයි.

 

[nppcheguevara]

Tax breaks දීපු ගමං සිංහලු Missuse කරන්න ගන්නවානේ
දැන් ඔය පෝට් සිටි එකේ ටැක්ස් නැති කරපු ගමන් සමහර කම්පැනි කරේ ලංකාවෙ තියන කම්පැනියම පෝට්සිටියට ගෙනිහින් tax benefit එක විතරක් ගන්න හදනවා
ඇත්තටම tax break එක වටින්නෙ එකනිසා කවුරු හරි පිටරටින් ඇවිත් එතන බිස්නස් එකක් ඇරලා සිංහලුන්ව හයර් කරන එකනේ.

ලංකාවෙන් කම්පැනි අයින් කරන් යනවා අයින් කරන්න යනවා කිවුවට කවුරුවත් අයින් කරන් යන්නෙ නං නැහැ.
කම්පැනි ලංකාවෙන් එලියට අරගෙන යන එක ලේසි නැහැ. ගොඩක් IT කම්පැනි වල සල්ලි සේරම ලංකාවට ගේන්නෙ නැහැනේ, උන් ගේන්නෙ මෙහෙ සැලරි සහ ඔපරේශන් වලට ඕන සල්ලි විතරයි, ඒක නිසා බිස්නස් ටැක් වැඩි වෙන එක ලොකුවට කම්පැනියට අදාල නැහැ ඒවයෙ ප්‍රොෆිට් Singa/Dubai/US වල තියාගෙන ඉන්නෙ
මම වැඩ කරපු කම්පැනි වල වෙන රටවලින් ඩිවලොපර්ස්ලා ගන්න ට්‍රයි කරාට ඒක අමාරුයි. සමහර රටවල labour law පට්ට වෙනස් නෝටිස් පීරියඩ් එක සති 2යි, පරොබේශන් මාස 2ට වඩා තියන්න බැහැ වගේ ඒව තියනවා. ඒව නිසා ලංකාවට වඩා අඩු ස්කිල් එකක් තියන ඩිවලොපර්ස්ලාගෙ සැලරි වැඩියි. අනික outsource ප්‍රොජෙක්ට් කරද්දි සති දෙකේ වගේ නෝටිස් පීරියඩ් එක්ක කරන්න බැහැ.
ලංකාවෙ සැලරි අඩු එක තමයි ලොකුම හේතුව, ලංකාවෙ සැලරි ස්කේල් එකට වැඩ කරන එවුන් ඉන්නෙ ලංකාව, ඉන්දියාව, පකිස්තානෙ, බංගලාදේශෙ තමයි ඔය හැම රටකට වඩා ලංකාව තියං ඉන්න එක හොඳයි.

tax is a failed system, over and over . tax witharak gahala goda giyapu ratak kiyapam balanna!

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Govt. will implement IMF proposals to the letter despite any public protest, political pressure: Lalkantha​

July 5 (Daily Mirror) - Minister of Agriculture, Land, Irrigation and Livestock Development K.D. Lalkantha asserted that the government would comply with the IMF programme regardless of public protests.

Making remarks to the press after attending the meeting of the Kandy District Coordinating Committee, he said that the government had already been implementing the programmes proposed by the IMF and that it would continue to do so.

“We are with the IMF programme. The government is not prepared to sabotage it. The government is achieving the targets as agreed with the IMF. It has been a complete success. The rest of the proposals will be fulfilled. We have to start debt servicing after 2028,” he said.

“The government will not change its decisions under pressure from the Leader of the Opposition, public agitations or strikes. If required, the government will increase or reduce prices in keeping with the relevant formula. We will not succumb to pressure from the Opposition Leader, public protests or strikes, nor hesitate to take vital decisions and allow the forward march of the country to stall,” he said.

- https://www.dailymirror.lk/breaking...otest-political-pressure-Lalkantha/108-313430

IMF is a failed system! there is no one there elected by people! yet they control world economy. fuck them!

BTICOIN is the solution!

loke nayakayan IMF ekata mechchara baya mokada kiyala mata nam therenne na. STF eka yawala okunge hedoffice eka samathala karala danna ona!
------ Post added on Jul 9, 2025 at 10:24 AM