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VAT should not be applied to goods and services consumed outside

VAT is an end user consumption tax, and therefore should not be applied to goods and services that are consumed outside of Sri Lanka. By introducing such a TVR scheme, Sri Lanka will be aligning itself with international best practices Mangala Samaraweera, Minister of Finance and Media said yesterday (11th). At the Opening of the Tourist VAT Refund Scheme (TVRS)...

Uefa ‘planning third European club competition from 2021’

A third European club competition could be introduced alongside the Champions League and Europa League from 2021, according to the head of the association of Europe's biggest teams. European Club Association (ECA) chairman Andrea Agnelli, who is also on Uefa's executive committee, said the "the green light has been given".

30,000 flee in Syria as UN fears century’s ‘worst’ crisis

Violence in northwest Syria has displaced more than 30,000 people this month alone, the United Nations said Monday, warning that a looming assault could create the century's "worst humanitarian catastrophe". Idlib province and adjacent rural areas form the largest piece of territory still held by Syria's beleaguered rebels, worn down by a succession of government victories in recent months.  

South Korean President Moon urges ‘bold decision’ from US President Donald Trump and Kim North Korean leader Kim

South Korean President Moon Jae-in called for a "bold decision" by US President Donald Trump and North Korean leader Kim Jong Un on denuclearisation Tuesday as the White House said it was planning another summit with Pyongyang. "The complete denuclearisation of the Korean peninsula is an issue that should fundamentally be resolved between the US and North Korea through negotiation,"...

Former world champion Raikkonen to leave Ferrari, return to Sauber at end of 2018

Former world champion Kimi Raikkonen will leave Ferrari at the end of 2018, the Italian Formula 1 team announced on Tuesday. The 38-year-old Raikkonen has started 287 grands prix, winning 20 since his debut in 2001 with Sauber, the team he will race for again in 2019.

Twin bomb attack near Afghan girls’ school

A boy was killed and four others wounded in a double bombing outside a school in restive eastern Afghanistan on Tuesday, officials and witnesses said, in the latest violence to hit the country. The first explosion happened in front of Malika Omaira girls' school in Jalalabad, the capital of Nangarhar province, at around 8:30 am (0400 GMT). A second bomb went...

Nigeria gas tanker explosion kills dozens

At least 35 people were killed and hundreds injured when a gas tanker exploded in northern Nigerian state of Nasarawa and started a blaze, the state emergency agency said. The State Emergency Management Agency (SEMA) official said on Monday the accident happened at a petrol station along the Lafia-Makurdi road linking the capital city of Abuja with northern and southern...

Thundershowers will occur at a few places

Showers or thundershowers will occur at a few places in Eastern, Uva and Central provinces and in Vauniya, Mullaitivu and Polonnaruwa districts after 02.00 pm. There may be temporary localized strong winds during thundershowers. General public is kindly requested to take adequate precautions to minimize damages caused by lightning activity. Weather  forecast  for  next  36 hours Tonight: Showers or thundershowers will occur...

Premier advocates trad able economy

Sri Lanka’s economy should be transformed from a non-tradable one to a more tradable sector and the government’s current economic restructuring plan is aimed at achieving this goal, Prime Minister Ranil Wickremesinghe said on Sunday at the ceremony to award the ‘Most Admired Companies of Sri Lanka’ in Colombo. The awards ceremony was organised by the International Chamber of Commerce,...

Indian Prime Minister meets Sri Lankan parliamentary delegation

A Sri Lankan Delegation led by Speaker Karu Jayasuriya has called on Indian PM Narendra Modi. The Indian Prime Minister and Speaker Jayasuriya had engaged in an extensive 45 minute bi-lateral discussions. It had been paid attention of the Indian media, when PM Modi allocated a considerable time for meeting with the Sri Lankan delegation, despite, the focus of the Indian...