trade

    High protection betrays uncompetitiveness of Sri Lankan industry
    by |10 October 2018|Verité in the News
    ECONOMYNEXT - Prohibitive import tariffs that protect domestic industry from competition are an indication of the inefficiency of local companies, Subhashini Abeysinghe, Research Director at think-tank Verité Research said. Higher import taxes signal higher domestic prices compared to import prices,...
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    Sri Lanka needs to generate public support for trade reform
    by |09 October 2018|Verité in the News
    ECONOMYNEXT - Sri Lanka needs to convince the public about the benefits of trade so they could prod politicians to make the reforms to reduce living costs and companies more competitive, panelists at a World Bank forum said. The general...
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    Corrupt bureaucrats, uncompetitive local industries blocking trade liberalisation
    by |09 October 2018|Verité in the News
    By Nishel Fernando The largely uncompetitive local industries and corrupt bureaucrats are exploiting the public perception to delay trade liberalisation and the necessary reforms for their personal gains, as the government and academics have so far failed to engage the...
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    Rethinking the rupee crisis 
    by |27 September 2018|Verité in the News
    The call by the Government to reduce imports as an effort to counter the impact of Sri Lanka’s fast depreciating rupee was met with disdain by many members of the public. This is largely because an import contraction is seen...
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    Online Govt. trade portal set to fail if structural problems go unchecked: Leading researcher
    by |25 September 2018|Verité in the News
    By Madushka Balasuriya In July this year, Sri Lanka made one of the most progressive steps in its trade history when it launched the Sri Lanka Trade Information Portal (SLTIP). An initiative by the Department of Commerce, in collaboration with...
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    Sri Lanka’s regulations, multiple state agencies blocking progress
    by |18 September 2018|Verité in the News
    ECONOMYNEXT - Sri Lanka's multiple ministries and agencies and regulations is making it difficult to implement policy and red tape was hindering trade and investment, and reform are required to unlock growth, officials said. "Sri Lanka compared to other emerging...
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    Loopholes hamper outcome of import tax relief programs – Study
    by |27 August 2018|Verité in the News
    Tax exemptions come as a shot in the arm for businesses saddled with various taxes such as Import Duty, Import Cess, Port and Airport Development Levy, Nation Building Tax (NBT) and Value Added Tax (VAT) which are key revenue sources...
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    Import taxes
    by |23 August 2018|Verité in the News
    Import taxes are an important part of an economy. They provide tax revenue, raw materials and products that directly affect the lives of people. However, a recent study has found that Sri Lanka’s import tax exemption schemes are too opaque,...
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    Study finds Sri Lanka import tax exemption schemes prone to abuse
    by |23 August 2018|Verité in the News
    Sri Lanka’s import tax exemption schemes are not transparent, subject to undue official discretion and prone to abuse, a study by the Verité Research think-tank has found. Called ‘Wading Through Murky Waters’, the think-tank said its findings were a case...
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    Opaque import tax exemptions pave way for abuse: Report
    by |23 August 2018|Verité in the News
    Sri Lanka’s import tax exemption schemes are too opaque, resulting in them being open to abuse and corruption, a case study by a prominent think tank has found, with decisions frequently subject to officials’ discretion as regulations are unavailable to...
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