‘Big Bad Wolf’ World Largest Book sale held in Sri Lanka from June 28 to July 8 at SLECC

For the second successive year, the worlds biggest 24-hour book fair ‘Big Bad Wolf’ will take place from June 28 to July 8 at the Sri Lanka Exhibition and Convention Centre {SLECC).

One of Sri Lanka’s foremost recruitment agencies. B-Connected will partner with Big Bad Wolf to assist the staff of different categories to man the mega sale. The agency hopes to attract energetic, friendly and team-spirited people willing to work 12-hour shifts during the event.  B-Connected Managing Director Felicia Adhihetty said they were pleased to partner with Big Bad Wolf this year.

“Those who come aboard with us can expect to have an exciting and educative experience. It calls for a lot of hard work, but will be a rewarding job.” she said. For inquiries contact Priyanthi Nirshanon 0777328123.

New Income Tax for Pay As You Earn (PAYE) in Sri Lanka for Year 2018

The New Inland Revenue that effective from 1st April 2018 has changed the formulae of Pay As You Earn (PAYE) Tax Calculation on your employment profits.

See below table for tax calculations

Monthly Regular Profit from Employment Tax
Up to Rs. 100,000 Exempted
Rs. 100,001 to Rs. 150,000 4% – Rs. 4000
Rs. 150,001 to Rs. 200,000 8% – Rs. 10,000
Rs. 200,001 to Rs. 250,000 12% – Rs. 18,000
Rs. 250,001 to Rs. 300,000 16% – Rs. 28,000
Rs. 300,001 to Rs. 350,000 20% – Rs. 40,000
Exceeding Rs. 350,001 24% – Rs. 54,000

 

As above detail is bit confusing to understand, let see below examples and calculate how much would be reduce from salary as PAYE Tax.

Example 1

If your Monthly Salary is Rs.80,000/-

You will be exempted from PAYE for monthly income. Let assume if you get Rs. 350,000 as Bonus than you will be taxable as below

Taxable Calculation

Annual Salary     Rs.80,000 x12     Rs. 960,000/-

Bonus                   Rs. 350,000/-

Total Taxable Profit         Rs. 1,310,000/-

Tax Exempted                   Rs. 1,200,000/-

Tax Calculation will be 1,310,000 x 4% = 52,400 – (4,000 Per Month x 12 Months)

So Final Tax Payment would be Rs. 4,400/-

 

Example 2

If your Monthly Salary is Rs.150,000/-

You will be liable for 8% Tax and reduction of Rs.10,000 per month of PAYE for monthly income. Let assume if you get Rs. 350,000 as Bonus than you will be taxable as below

Taxable Calculation

Monthly Salary  Rs.150,000/-

New Income Tax for Pay As You Earn (PAYE) in Sri Lanka for Year 2018

PAYE from Monthly Income        150,000×8% – Rs.10,000 = Rs. 12,000-Rs.10,000 = Rs. 2,000/- Per Month

Bonus                   Rs. 350,000/-

PAYE for Bonus will be 350,000 x 20% = 70,000

Hope above Calculations are clear, please do write us a comment if you need any further clarifications

CBSL issues commemorative currency note for 70th Independence Day

The Central Bank of Sri Lanka (CBSL) has issued a circulation standard commemorative currency note in the denomination of Rs.1,000 to mark the 70th independence celebration in the country which falls on February 4. This is the 4th commemorative note that was issued by the Central Bank.

The size, predominant colour and security features of this commemorative currency note are similar to the current circulating Rs. 1,000 note in 11th currency note series, except for the following changes:

On the front of the note, a Celebrating Diversity logo is appearing at the lower left corner of the note, replacing the butterfly in the current circulating Rs. 1,000 currency note: images of a temple, mosque, kovil, and church are appearing at the centre of the note, replacing the image of Ramboda Tunnel: and prefix of the note appears as S70, replacing the prefix S.

 

A quantity of 5 million currency notes would be issued and the serial numbers of the notes would be from S70/1 000001 – S70/5 1000000. The date on the note is 2018.02.04.

The currency note would be legal tender in Sri Lanka for the payment of any amount and would he a liability of the Central Bank of Sri Lanka whilst in circulation. The currency note was officially presented to Finance Minister Mangala Samaraweera by Central Bank Governor Dr. Indrajit Coomaraswamy on January 30.

The commemorative currency note would be issued to circulation through licensed commercial banks, commencing from February 6. At the same time, a limited number of notes with early serial number, in an attractive folder, would be sold at a price of Rs. 1,300 each at the Economic History Museum at No. 54, Chatham Street, Colombo 1 and Central Bank Regional Offices at Anuradhapura, Matara, Matale, Trincomalee, and Kilinochchi.

NEWS

Spot fines for motor traffic related offences

The Transport and Civil Aviation Ministry has introduced spot fines for range of motor traffic related offences instead of prosecuting at the court.

The ministry issuing a Gazette Extraordinary has stipulated spot fines Hinging from Rs. 500 -Rs.3,000 for selected offences which previously required the institution and carrying on of legal proceeding in a court of law.

 

Accordingly, a spot fine of Rs.3,000 has been introduced for offences related to

  1. Non-compliance with speed limits provisions – Rs. 3,000/-
  2. Instructing without an instructor’s License – Rs. 2,000/-
  3. Failure to comply with road rules – Rs. 2,000/-
  4. Failure to obey directions and signals of police officers etc – Rs. 2,000/-
  5. Failure to take precautions when motor vehicle is halted or left unattended or disabled on a road – Rs. 2,000/-
  6. Non-use of seat belts – Rs. 1,000/-
  7. Failure to wear protective helmets when driving – Rs. 1,000/-
  8. Failure to carry a Driving License when driving – Rs. 1,000/-
  9. Excessive emission of smoke – Rs. 1,000/-
  10. Non-compliance with traffic signs – Rs. 1,000/-
  11. Offences related to identification plates – Rs. 1,000/-
  12. Not displaying revenue License on motor vehicles and not producing it when required – Rs. 1,000/-
  13. Use of motor vehicles in contravention of the provisions of revenue License – Rs. 1,000/-
  14. Failure to obtain authorisation to drive emergency service vehicles and public service vehicles – Rs. 1,000/-
  15. Driving a special purpose vehicle without obtaining a license – Rs. 1,000/-
  16. Failure to obtain authorization to drive a vehicle loaded with chemicals – Rs. 1,000/-
  17. Hazardous waste and failure to have a License to drive a specific class vehicles – Rs. 1,000/-
  18. Using inappropriate signals when driving – Rs. 1,000/-
  19. reversing a motor vehicle for a long distance on a road – Rs. 1,000/-
  20. exceeding the number of persons allowed in front seats of motor cars – Rs. 1,000/-
  21. excessive use of noise from a vehicle – Rs. 1,000/-
  22. Riding or permitting to ride on running boards of motor vehicles – Rs. 500/-
  23. Carriage of persons in excess of authorised number in private coaches – Rs. 500/-
  24. Goods other than personal luggage in motor cars or private coaches – Rs. 500/-
  25. Exceeding the number of persons carried in a lorry – Rs. 500/-
  26. Failure to carry the emission certificate or the fitness certificate in the vehicle. – Rs. 500/-

¬News ¬

 

Sri Lanka Army Volunteer Force Invitations Opens for Lady Officer Cadet

Sri Lanka Army Volunteer Force invites applications for the Lady Officer Cadet, see below details for entry qualification and salary and other benefits.

Basic Qualifications

  • Should be an unmarried female citizen of Sri Lanka
  • Age should not be less than 18 years and not more than 22 years as at 06 February 2018.
  • Height should not be less than 5′ 3″(Those who have excelled in school / National/ International and all Island level sports will be considered for enlistment even if they do not fulfill the requirement of height).

 

Educational & Other Qualifications

  • Should have passed two subjects at the G.C.E. (A/L) Examination in one sitting and passed the G.C.E (O/L) Examination in two sittings with four Credit Passes including English and at least Ordinary Passes for Mathematics and Sinhala/ Tamil.
  • Should be an employee of the executive grade in the public/ private sector or possess an annual income of Rs.500,000.00.
  • Any other higher educational qualifications or achievements in sports will be considered as added qualifications.

 

Pay, Allowances & Other Benefits

Monthly gross pay of Officers in the respective ranks including allowances is as follows

Officer Cadet Rs. 37,817.00
Second Lieutenant (Married Officers) Rs. 70,797.70
Lieutenant (Married Officers) Rs. 75,969.70
Captain (Married Officers) Rs. 80,613.70
Major (Married Officers) Rs. 85,657.70

 

Commissioned Lady Officers will be entitled to fringe benefits to cover expenses on transport, uniforms, medical, food and accommodation. They will also receive opportunities of serving overseas UN Peace Keeping Missions and to follow advanced courses.

 

Enlistment Procedure

On successful completion of basic training at the Sri Lanka Military Academy, they will be commissioned as Second Lieutenants and posted to respective Battalions.

Application Procedure

Those who are employed in government departments or private sector should forward their applications along with the recommendation of the head of the institution.

Unemployed applicants should certify annual income of Rs.500,000.00 attested by a Justice of Peace.

Applications prepared as per the specimen application with copies of documents mentioned below should reach “Recruiting Officer, Headquarters, Sri Lanka Army Volunteer Force, Salawa, Kosgama’ by registered post on or before 06 February 2018. The clause “LADY OFFICER CADET IN THE VOLUNTEER FORCE OF THE SRI LANKA ARMY” should be mentioned on the top left corner of the envelope enclosing the application.

  • Birth Certificate
  • Recommendation from the Head of the Department
  • National Identity Card
  • Two Character Certificates obtained recently
  • Grama Niladhari Certificate
  • Certificates of Educational and Professional Qualifications
  • Other relevant Certificates
  • Certificates of Sports and Extra Curricular Activities

 

For more details contact to Sri Lanka Army on 036-2255362/011-3188558 or see below image

Sri Lanka Army Volunteer Force Invitations Opens for Lady Officer Cadet

Sri Lanka’s first pharma zone to open with US$ 10 million investment

I The Stale Pharmaceuticals Manufacturing Corporation of Sri Lanka (SPMC) and Pharma Zone (Pvt) Ltd entered into an agreement on January 8, 2018, to build the first ever exclusive pharmaceutical manufacturing zone of Sri Lanka at Welipenna in the Kalutara district with an investment in excess of US $ 10 million.

Pharma Zone (Pvt) Ltd located on 50 acres is a BOI approved company whose principals are the Sultan of Johor, Sultan Ibrahim Ismail Ibni Sultan Iskandar and Patrick Lim Soo Kit, a leading Malaysian entrepreneur.

The Sultan’s investment vehicle, Inti Kemuncak Sdn Bhd is a well-established property development company based in Malaysia focusing on large scale property development in the Asian region. Inti Kemuncak is the innovative developer of major townships and urban regeneration projects including a coronation square, a US S 1.2 billion international class urban mixed development located within the prestigious Ibrahim International Business District (IIBD) in Johor Bahru.

The Pharma Zone will facilitate the local pharmaceutical manufactuers with sufficient land for manufacturing plants and basic infrastructure facilities for the manufacture of pharmaceutical products with a view to achieving the Governments target of localising production of essential pharmaceutical items to a value of US$100 million, thus saving valuable foreign exchange.

Chairman SPMC, Dr. Sayura Samarasundara said that with the completion of the Pharma Zone, envisaged to be in operation within one year, the country’s dependency on imported drugs will soon become a thing of the past.

The zone will be run and administered by Pharma Zone, headed by Patrick Lim Soo Kit, while the SPMC along with the Ministry of Health will set the standards and monitor quality.

Electricity, water, road infrastructure, security, waste water management, etc will all be provided to the companies operating within the zone, and it is the intention of Pharma Zone to attract overseas investors to set up operations within the Zone as well. “We will be marketing Pharma Zone regionally,” said Lim.

With the establishment of Pharma Zone it is hoped that most of Sri Lanka’s drug availability and cost issues will soon come to an end.

¬NEWS¬

2.116 Million Tourist Arrived to Sri Lanka in Year 2017

Tourist arrivals to Sri Lanka reached an all-time high of 2,116,407 in 2017 according to the latest data released by the Sri Lanka Tourism Development Authority.

The arrival figure for 2017 represents a 3.2 growth or 65,595 more arrivals over the preceding year when the figure crossed the 2 million mark for the first time.

The higher number of arrivals has been achieved despite serious set-backs to the tourism industry right throughout 2017. The first setback was the partial closure of the country’s main airport from January to April and then southern half of the country experienced devastating floods that cut off access to many resort areas resulting in adverse international media publicity that had an impact on forward booking.

This was followed by an unprecedented dengue epidemic centered around the commercial capital Colombo that lasted several months which too resulted in negative reports on international media resulting in at least one country issuing a travel advisory based on the

Further flooding and a severe drought in the central and northern parts of the country in the latter part of the year added to the climatic woes suffered by the tourism industry during the year which according to industry sources impacted forward bookings.

According to SLTDA data, arrivals in December grew from 224,791 in 2016 to 244,536 in 2017 reflecting an 8.8 growth rate which augurs well for the winter season ahead.

India continued to be the top source market with 384,628 arrivals (up 7.8%) followed by China with 268,952 (down 1%) and UK 201,879 (up 7.3%). Of the total number of arrivals 2,085,272 reached the country via B1A in Katunayake, 5,491 via MRIA in Mattala, 10,569, via Colombo Harbour, 14,099 via Galle Harbour and 976 via other ports according to statistics from the Department of Immigration and Emigrations.