Financial Times

Chambers concerned over NBL hike

Leading chambers of commerce and industry in Sri Lanka are expressing serious concerns about the impending increase in the Nation Building Levy (NBL) to 3% from 1% and its effect on businesses. The chambers feel that the tax increase, due to come into effect on May 1, 2009 is a direct result of decreasing government revenue but fear it will adversely affect businesses both large and small which continue to struggle under difficult conditions.

 
Golden Key directors begin declaring assets
Several directors and office bearers of the Golden Key (GK) Credit Card Co have begun in the process of disclosing their assets by way of affidavits to the Central Bank following a Supreme Court order. One of the directors of the company owns 21 houses among other assets, according to the affidavit submitted to the authorities.
 
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