COLOMBO: Under the provisions of the State Lands Ordinance, for lands which are leased for thirty (30) years under the long-term lease scheme, the tax is calculated according to the market value calculated by the Chief Assessor and the tax rate is increased in 50% in every five years. In renting state lands for commercial enterprises the tax rate remains a high value causing many difficulties to small and medium scale entrepreneurs. Considering above facts the proposal made by H.E. the President Maithripala Sirisena, in his capacity as the Minister of Mahaweli Development and Environment, to prepare a concessionary taxation method for leasing state lands, was approved by the Cabinet of Ministers
Electricity price may rise as Discos seek extra fuel cost charge
ISLAMABAD: Electricity consumers may face higher power bills starting in May, as power distribution companies have requested the national energy...
