ETIQUETTE: Business settings remain formal with small cultural nuances, but leeway is given to foreigners in this respect. While men normally shake hands with other men, and women with women, some women may not wish to shake hands with men outside of family circles. It is best to wait and see if a...
RAMADA COLOMBO 30, Sir Mohamed Macan Markar Mawatha P.O. Box 1202, Colombo 3 T: +94 112 422 001 F: +94 112 447 977 www.ramadacolombo.com info@ramadacolombo.com Rooms: 94 luxury rooms in total. Business & Conference Facilities: Internet, fax, scanning, printing, secretarial services, ballroom with capacity for 700, two meeting rooms with 50...
Sri Lanka has had a poor history of revenue collection. Tax revenues as a percentage of GDP have declined from above 20% in the early 1990s to about 12.2% in 2014. In comparison, Malaysia and Thailand are at about 15%, while Singapore is about 13%. India, however, is at 10%, although it also contains a far larger informal economy.
Worker remittances have been growing over time and now play an important role in the country’s international capital flows. They surpassed $7bn in 2014, up from about $2bn in 2006. Despite levelling off in early 2015, they then reached $8.2bn in 2015, which remains a large portfolio for a $75bn economy.
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