Business

One of the three main revenue-generating arms of the country and the competent authority regulating the liquor industry, the Excise Department of Sri Lanka has earned a record revenue of Rs.61 billion during the first quarter of this year.

The best and only solution to the new tax rate imposed by the US is to either completely remove the taxes we have placed on them or reduce our tax rate to 6%, said Sarath Kalugamage, Executive Officer of the Ratata Hetak Organisation

China on Friday announced a slew of additional tariffs and restrictions against U.S. goods as a countermeasure to sweeping tariffs imposed by U.S. President Donald Trump.

Sri Lanka’s apparel sector, the country’s largest export industry, is bracing for a major setback after the United States announced steep tariff hikes on imports, a move, which according to the industry, could erode competitiveness.

The Consumer Affairs Authority (CAA) issued a special gazette notification enforcing maximum retail prices for PET bottled drinking water, effective from April 1.

The United States yesterday announced and introduced a significant shift in its trade policy by imposing tariffs on imports, marking a departure from the globalization and comparative advantage doctrine that has dominated international trade for decades.

Sri Lanka’s Minister of Labour and Deputy Minister of Economic Development Dr. Anil Jayantha Fernando says that Sri Lanka will hold talks and negotiate the new trade tariffs imposed by the United States on the country’s exports.

Oil prices fell to negative territory after rising by a dollar in post-settlement trade on Wednesday as U.S. President Donald Trump announced reciprocal tariffs on trading partners, stoking concerns that a global trade war may dampen demand for crude.

President Anura Kumara Dissanayake has appointed a high-level committee to analyze the potential economic impact of the newly imposed reciprocal tariffs by US President Donald Trump and to provide recommendations to the government.

United States President Donald Trump on Wednesday announced a sweeping set of reciprocal tariffs, imposing a baseline 10 per cent tax on all imports and significantly higher rates on dozens of countries with which the US runs trade deficits