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New tax bill: Sri Lanka’s corporates wary about ‘subtle’ non-deductions-By Sanath Nanayakkare Source:Island Say draconian powers drafted to be given to Inland Revenue Chief Calls for independent body to get a fair hearing The new tax bill is one that demotivates taxpayers from being compliant and one that restricts existing taxpayers from their legitimate deductions, Nisreen Rehmanjee, head of corporate finance, group tax and social entrepreneurship project, John Keells Group said on Tuesday. She said so at a webinar hosted by the Ceylon Chamber of Commerce (CCC) titled,” Implications of Amendments to the Inland Revenue Act.” Predominantly taking a corporate view of the bill, she said,” Considering the financial situation of the country, I think that everyone has to pay more tax. That is a policy issue and I don’t have any problems with that. But we are concerned about proposed provisions on deductions, tax administration and taxpayer rights. The ...

Oct 23, 2022 Posted by In Articles Tagged , , , ,
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Keells revolutionizes modern retail industry Source:Island Keells Supermarkets on Thursday, officially launched its Rs.4.6 billion, state-of-the-art centralized distribution centre (DC) in the industrial zone in Kerawalapitiya. The Facility is equipped with latest cutting-edge technology and systems on par with global retail giants. This will serve as Keells Supermarkets’ first owned and operated DC and is a testament to their commitment to product and service excellence, said a press release. The 260,000 square feet Facility occupying 9 acres will make it the third largest warehouse Facility in the country and the largest technologically advanced distribution Facility in the modern retail sector in the country. The initiative was initially set in motion five years ago after undertaking a comprehensive study on global best practices and the growing needs oFthe expanding supermarket chain. ...

Mar 13, 2022 Posted by In Articles Tagged ,
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Women technopreneurs: Reinventing the business world webinar on 2 Sept-by Thilini Ekanayake Source:FT The United Nations Global Compact is the largest corporate sustainability initiative and consists of several local networks. As a special initiative of the UN Secretary-General, the United Nations Global Compact is a call to companies everywhere to align their operations and strategies with 10 universally accepted principles in the areas of human rights, labour, environment and anti-corruption, and to take action in support of UN goals. The UN Global Compact Network Sri Lanka has been inspiring corporates to integrate sustainability strategies for 15 years, since 2006. Network Sri Lanka will host a webinar titled ‘Women Technopreneurs: Reinventing the Business World’ on 2 September, 3 p.m. to 4:15 p.m. (IST) via Zoom. ...

Aug 30, 2021 Posted by In elanka Finance Tagged , , , ,
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Opinion: Positive happenings in Sri Lanka in 2021-By Asela Atukorala Source:LBO Sri Lanka is unfortunately in a sad state right now with its biggest problem being the third wave of the COVID-19 pandemic. There is also the X-Press Pearl ship tragedy which is causing a serious marine environmental disaster as well as the floods and landslides. As a comfort to these difficult times, I decided to provide a list of positive incidents that occurred in Sri Lanka during the first half of this year. As I heard many of these stories from the companies responsible, I would like to say that I have no affiliation with any of these companies. I’m not trying to downplay or deny the problems facing Sri Lanka. I’m showcasing a side of Sri Lanka which gets less attention. I feature stories relating to exports, agriculture, sustainable business, the environment and more. Tea Export Increases The ...

Jul 13, 2021 Posted by In elanka Finance Tagged , ,
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The story of the courageous man who gave birth to John Keells Group – Ken Balendra Source:Inspire FB We did not have any money at that time. so, my brother and I wore the same dress to the wedding on the same day – When I was a child, we lived in a small, rented house on the 25th lane in Kollupitiya. Behind our houses, there were all the slums. Lots of kids. We played with those kids too. We played cricket on Duplication Road; a dirt road that has not been tarred. Bicycling. Every time I pass Liberty Plaza I am reminded of that beautiful past. I was a ‘Creeper’ at the Hapugastenna Estate. The General Manager of the James Finlay Company, a European nationality, often came to watch the rugby matches I played. He was the one who invited me to join Finlays. I spent seven years with tea ...

Apr 25, 2021 Posted by In Articles Tagged , ,
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Women in Management, IFC and Government of Australia Honor Sri Lankan Women Source:Bizenglish.adaderana Neelika Malaviga, a university professor known for her work in researching COVID-19, is among the winners of this year’s ‘Top 50’ Professional and Career Women Awards 2020, by Women in Management (WIM), in collaboration with Women in Work, a partnership between IFC, a member of the World Bank Group, and the government of Australia. The awards – now in their tenth year – saw inspirational business and career women honored for the roles they have played in their industries, along with Sri Lankan corporates which have supported the growth and empowerment of women in the workplace. This year’s ‘Top 50’ awards also saw a special appreciation to those who helped combat COVID-19 in 2020, specifically during the height of the pandemic. These special appreciation awards went to Sri Lanka Police, Sri Lanka Army, Public Health Officers and Medical ...

Jan 30, 2021 Posted by In Articles Tagged , , , , , , , , , , , ,
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