Sharown Sundararajah
13K posts
@SSCricket93
Saved by his grace! ✝️ Full time sports fanatic, part time HR professional / Tech Recruiter. 🏏⚽️🏎🎾🏀
Good news! India’s solar energy capacity has multiplied 50 fold since 2014 and its total clean power capacity in has exceeded that from fossil fuels five years ahead of target. gulfnews.com/world/asia/ind…
New Day, New Tax: Sri Lanka’s 🇱🇰 Never Ending Tax Lust ⭕️ From May 1, 2026, the Government has decided that vehicle imports will be subject to a 2.5% Social Security Contribution Levy (SSCL) at the point of importation. ⭕️ “At the point of importation” means that anyone importing a vehicle, including personal importers, will now be subject to this tax. ⭕️ Previously, SSCL was mainly paid by vehicle importers after the sale. Personal importers were not directly subject to this tax at the point of importation. ⭕️ Even vehicle importers may not have properly paid SSCL under the previous turnover-based system, as it left room for anything from creative accounting practices to outright tax fraud. ⭕️ Effectively, this change means that if you buy a vehicle, your cost will increase by around Rs. 2%-3% or more, depending on the CIF value and the relevant taxes for that vehicle. ⭕️ Rs. 7 million -> ~ Rs. 150,000 🔺 ⭕️ Rs. 10 million -> ~ Rs. 200,000 🔺 ⭕️ Rs. 15 million -> ~ Rs. 300, 000🔺 ⭕️ SSCL works like VAT, it is charged on the basis of CIF value and other applicable taxes. 2.5% SSCL = (CIF value + CIF x 10% + CID + Excise Duty + any other taxes) x 2.5% CID = CIF x 30% Excise Duty = Changes based on the vehicle type Other taxes = such as surcharge, PAL, etc. Currently 0 for vehicles ⭕️ SSCL was introduced in 2022 as a temporary tax to support Sri Lanka’s economic recovery by charging 2.5% on turnover. ⭕️ The Government has no real justification to keep increasing taxes on people, especially when revenue generating agencies have exceeded their targets during the last two to three years, and any expected revenue increase from this measure could have already been achieved through improved collection. ⭕️ The only other group that benefits from this change is large scale vehicle importers, as it removes one of the key cost advantages of personally importing a vehicle over buying from an established importer. ⭕️ Adding more taxes on already heavily taxed vehicles does not create any meaningful value for the country in the long run, especially when it locks away capital in depreciating assets like vehicles. ⭕️ Higher taxes do not help grow the economy. They discourage economic activity and reduce people’s ability to spend, invest, and build businesses. In simple terms, it is another case of handing more money to the Government, often the worst manager of money in any country. ⭕️ If Sri Lanka 🇱🇰truly wants a fair and low tax system, the focus should be on widening the tax base, improving the collection system, reducing leakages, and ensuring that everyone contributes fairly. #SriLanka #VehicleTaxes
ALERT: President @anuradisanayake says 2026 will see the largest number of “corrupt individuals, fraudsters, and thieves” brought to justice. "We will not consider whether the suspects are former presidents, wives, sons, or any other relatives. They will be brought to justice."
‘2026 will go down in history as year of justice against corruption’ - President Read more: adaderana.lk/news.php?nid=1… #lka #srilanka #adaderana #news #lanka #srilankanews #President #justice #corruption
AKD is a skilled orator. He also has considerable talent in politicking. These attributes won him the presidency and have proved useful in crisis management, self-inflicted or otherwise. Does he offer much else? His team of novices is entirely reliant on him to deliver. Can he?
“Galle Face filled even when we had just 3%. Now even that space isn’t enough… there’s no single place to gather anymore. That’s why we planned 21 rallies islandwide.” President Anura Kumara Dissanayake
2026 to be year of jailing corrupt, says President AKD ift.tt/wk1Vvls
After my absolute refusal to accept postponement of the summons, the Secretary to Treasury and senior officials attended the COPF meeting along w @CBSL. All members of the Commitee were present and participated in the meeting in a most professional manner immaterial of political affiliations. It was revealed that 10 payments totalling USD 2.5m had been robbed from the treasury from Oct 25 through Jan 26. Notwithstanding red flags being raised the process had continued and officials had made payments upon approvals being obtained from multiple reporting layers. We were astonished to find the massive gaps in procedure which had been manipulated to commit this crime over four months. Serious questions remain as to why audits did not pick up the tell tale discrepancies. While it is the duty of law enforcement to track down criminals our responsibility is to continue oversight on public finance in general and in this case debt repayment in particular. On that count, I took the strong position that it was the duty of the Treasury to inform us and not be told by outsiders. Their excuse of sensitive nature of the matter etc was not accepted. ST had obligations under several Acts and FRs to inform the FIU within 48 hours, to get an initial report within 7 days and have the complete report submitted to Auditor General and Parliament within 3 months etc. While there is discrepancy on when exactly the Treasury found out about the crime, they informed us that they had initiated all such action, evidence for which we directed the officials to submit to us along with all relevant details. Next session on the matter will be held in four weeks at which point we will decide on further action. #SriLanka #cybercrime
A proposal to make all children born after 2010 a tobacco-free generation has been formally handed over to the Minister of Health, signalling a decisive step in Sri Lanka’s fight against tobacco and alcohol-related harm. The National Authority on Tobacco and Alcohol (NATA) presented the concept paper, backed by scientific research, to Health Minister Dr. Nalinda Jayatissa and the Ministry of Health for legal action. The document, prepared under the leadership of NATA Chairman Specialist Dr. Ananda Ratnayake and LL Amila Isuru of Rajarata University’s Faculty of Medicine, also included recommendations to amend and strengthen the NATA Act. The proposals highlight two key measures: Updating existing regulations under the NATA Act. Denying access to tobacco products for all individuals born after a set age limit, aligning Sri Lanka with global trends where similar laws have already been adopted. Minister Jayatissa welcomed the initiative, stressing that tobacco and alcohol remain major obstacles to building a healthier future for children. He instructed NATA to provide detailed provisions for legislative amendments. Dr. Ratnayake underscored the urgency, noting that nearly 80% of deaths in Sri Lanka stem from non-communicable diseases, with tobacco and alcohol as leading causes. Globally, tobacco use claims around 8 million lives annually, including 7 million from direct consumption and 10% from passive smoking. Alcohol use contributes significantly to mortality and health burdens as well. Sri Lanka faces an estimated 22,000 deaths each year due to tobacco and alcohol, alongside severe economic and social costs. Both substances are also identified as gateways to other drugs. LL Amila Isuru warned of rising cigarette use among schoolchildren and the heavy toll on public health expenditure. He emphasized that reducing prevalence and restricting access remain the most effective strategies to protect future generations. (Newswire)
Excited to watch Jacob Bethell bat today.
