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Black Protest Week: Professionals against unjust tax - newsfirst.lk
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Black Protest Week: Professionals against unjust tax
COLOMBO (News 1st) – Wednesday the 25th of January went down in history as the day in which a majority of the country's public and private sector employees were met with the highest income tax ever-imposed on the monthly salary, and allowances.Some of those working in the public and private sector and got taxes shared horror on social media platforms, noting that in addition to the existing deductions for loans, the new tax had left them with a very low take-home salary.The government's controversial new tax law, the Inland Revenue (Amendment) Act, was passed in Parliament last year.The new tax regime imposes an extraordinary maximum 36% tax bracket on monthly income, with the lowest bracket starting at 6% for those earning over Rs. 100,000/- per month.To protest against the unjust tax policy, a Black Protest Week was launched by the Professionals' Trade Union Alliance, and it will end on Friday (27).Doctors in the public service, university teachers, bank employees, engineers and professionals belonging to 15 organizations that form the Professionals' Trade Union Alliance launched a campaign against the unjust tax regime.The Professionals' Trade Union Alliance warned that if this tax regime continues, the country would experience a mass exodus of its professionals who would seek beneficial employment opportunities elsewhere.Effective from 1st January 2023, the progressive personal income tax rates would be 6%, 12%, 18%, 24%, 30% and 36%.The new tax regime will impose an extraordinary maximum 36% tax bracket on monthly income, with the lowest bracket starting at 6% for those earning over Rs.
Ali Sabry - Bangladesh wants to boost trade with Sri Lanka - newsfirst.lk - India - Sri Lanka - Bangladesh - Burma
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Bangladesh wants to boost trade with Sri Lanka
COLOMBO (News 1st) – Bangladesh Foreign Minister Dr A K Abdul Momen has underscored the need for setting up direct shipping connectivity with Sri Lanka to boost trade relations between Bangladesh and the South Asian nation.He also emphasised the resumption of negotiations for the early conclusion of the Preferential Trade Agreement (PTA) between the two countries.Bangladesh's foreign minister put the importance while holding a meeting with his visiting Sri Lankan counterpart Ali Sabry on Wednesday on the eve of the 22nd ministerial meeting of the Indian Ocean Rim Association (IORA) in the capital, a foreign ministry press release said on Thursday.During the meeting, the two leaders discussed the wide spectrum of bilateral relations and expressed hope to work closely together for the betterment of the two peoples and inclusive development of the region.Momen urged Sri Lanka to increase the import of agricultural products and pharmaceuticals from Bangladesh at an affordable price.Sri Lankan foreign minister said that his country is keen to work in close partnership with Bangladesh.The two leaders agreed to expedite the completion of the formalities to form an institutional platform to hold regular and comprehensive dialogues between the two countries at the level of foreign minister.The issue of mutual support for each other's candidature at various international fora was also discussed with due importance.Momen also sought support from Sri Lanka in repatriating the forcibly displaced Myanmar nationals sustainably.
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