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Article: Business community hails Budget 2009
- Article from:
- The Sunday Observer
- Article date:
- November 9, 2008
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Report from the Sri Lanka Sunday Observer brought to you by HT Syndication.
Colombo, Nov. 9 -- The business community while welcoming the 2009 Budget as a good move to develop domestic industries said given the current global economic crisis there should have been more benefits to strengthen the business sector.
Partner, Gajma and Co, Chartered Accountants, N.R. Gajendran said the Cess imposed on imported items will have long term benefits to promote local industries but in the short term industries are not geared to meet the supply demand and that the prices of essential food items will skyrocket.
He said while the reduction in the Value Added Tax (VAT) from 15 per cent to 12 per cent will ...