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Sri jLanka construction industry
Business & Financial News

Sri Lanka’s Construction Industry to face challenges with VAT Rise

The recent surge in Value Added Tax (VAT) in Sri Lanka has cast a shadow over the construction industry, heralding a challenging period ahead. As the government implements this tax increase, the construction sector finds itself grappling with heightened financial pressures. This surge in VAT is expected to have a cascading effect, influencing various facets of the industry, from project costs to overall investment climate.

Business & Financial News

SME sector seek temporary halting of parate executions

As the business community awaits a response, there is anticipation for proactive measures to be taken. A collaborative approach between policymakers, financial institutions, and SME representatives could pave the way for a strategic resolution. The government’s role in facilitating economic recovery becomes crucial, and a thoughtful response may involve a reassessment of existing laws and financial restructuring to align with the current economic challenges.