Sri Lanka’s China-backed tax free zone conflicts with minimum global tax: IMF

Sri Lanka’s China-backed Colombo Port City special economic zone, which has is giving long term tax holiday is likely to face pressure as the international community which is moving for a minimum 15 percent global tax, an International Monetary Fund report has warned.

EconomyNext

2022-03-24

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Cabinet approves international sovereign bond rest...

Sri Lanka’s Cabinet approved the restructuring of $14.2 billion in international sovereign bonds by swapping existing bonds for new ones, aligned with the IMF's debt sustainability analysis, following agreemen...

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IMF calls on government to increase social spendin...

The IMF urged Sri Lanka to enhance social spending and ensure inclusive economic growth while maintaining fiscal discipline and meeting reform targets under its Extended Fund Facility. ...

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Vehicle imports could be a ‘very good source of re...

The IMF suggests lifting vehicle import restrictions as a potential revenue source for Sri Lanka, emphasizing careful management to protect foreign exchange reserves.

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