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Illegal fiscal practices News

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Local News

Sri Lanka’s Inland Revenue Amendment Bill: Supreme Court Ruling Prompts Possible Legislative Adjustments.

May 18, 2026 at 4:00 AM

The Supreme Court of Sri Lanka has reviewed the controversial Inland Revenue (Amendment) Bill, leading to hopes that the government will soften provisions that criminalize administrative tax failures and restrict judicial oversight.

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Sri Lanka’s Inland Revenue Amendment Bill: Supreme Court Ruling Prompts Possible Legislative Adjustments
Image Credit : ft.lk
Economy
Pakistan Achieves Major Fiscal Milestone with Record Deficit Reduction
Image Source : arabnews.com

Pakistan Achieves Major Fiscal Milestone with Record Deficit Reduction.

May 17, 2026 at 9:52 PM
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Local News
Proposed Inland Revenue Amendments Spark Controversy Over Criminalizing Tax Procedural Errors
Image Source : ft.lk

Proposed Inland Revenue Amendments Spark Controversy Over Criminalizing Tax Procedural Errors.

May 17, 2026 at 12:06 AM
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Economy
Strategic Fiscal Management: How Malaysia is Strengthening Economic Resilience
Image Source : ncua.gov

Strategic Fiscal Management: How Malaysia is Strengthening Economic Resilience.

May 13, 2026 at 8:37 PM
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Urgent Need for Financial Oversight: Addressing Recent Lapses in State Fiscal Management
Image Source : ftadviser.com
Local News•
May 9, 2026 at 7:19 PM

Urgent Need for Financial Oversight: Addressing Recent Lapses in State Fiscal Management.

Sri Lanka faces renewed scrutiny over its public financial management following a series of alarming, allegedly fraudulent transactions within state institutions that have raised concerns about institutional accountability.

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Local News

Concerns Mount Over Fiscal Irregularities in Sri Lanka’s Welfare Distribution.

May 8, 2026 at 6:03 AM

Recent allegations regarding the irregular disbursement of Rs. 500 million in Aswesuma welfare funds have sparked public outrage, highlighting systemic gaps in financial oversight during Sri Lanka's economic recovery.

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Local News
Reflecting on the Premadasa Economic Model Amidst Current Fiscal Realities
Image Source : sundaytimes.lk

Reflecting on the Premadasa Economic Model Amidst Current Fiscal Realities.

April 30, 2026 at 6:55 PM
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Economy
Fiscal Stability Achieved: Revenue Expansion Powers Primary Surplus to 5.4%
Image Source : investopedia.com

Fiscal Stability Achieved: Revenue Expansion Powers Primary Surplus to 5.4%.

April 28, 2026 at 8:45 PM
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Economy
Economic Strain and Protectionist Policies: Analyzing America's Current Fiscal Challenges
Image Source : nerdwallet.com

Economic Strain and Protectionist Policies: Analyzing America's Current Fiscal Challenges.

April 28, 2026 at 2:57 AM
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US Trade Policy Shifts: New Tariff Investigations Target Global Imports
Image Source : ustr.gov
United States•
April 27, 2026 at 11:18 AM

US Trade Policy Shifts: New Tariff Investigations Target Global Imports.

Following a Supreme Court ruling declaring previous duties illegal, the US administration is launching new hearings to reassess tariff strategies on global imports amid concerns over labor practices and manufacturing capacity.

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Local News

Sri Lanka’s New Fiscal Landscape: A Transformation in Public Financial Management.

April 23, 2026 at 8:34 PM

Sri Lanka has initiated a major shift in fiscal governance through the enactment of the Public Financial Management Act and the Public Debt Management Act of 2024, focusing on transparency and rule-based accountability.

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Sri Lanka’s New Fiscal Landscape: A Transformation in Public Financial Management
Image Credit : nz.news.yahoo.com
United States

U.S. Customs Launches Portal for Billions in Unconstitutional Tariff Refunds.

The U.S. Customs and Border Protection (CBP) has launched an online portal for businesses to claim refunds on tariffs previously ruled unconstitutional by the Supreme Court, involving over $166 billion in collected funds.

April 23, 2026 at 11:19 AM
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Economy
Kenya Adjusts Fiscal Strategy: Lower Tax Targets and Increased Borrowing Plans
Image Source : swalanyeti.co.ke

Kenya Adjusts Fiscal Strategy: Lower Tax Targets and Increased Borrowing Plans.

April 20, 2026 at 10:18 AM
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Japan
Japanese Opposition Demands Five-Year Fiscal Consolidation Roadmap
Image Source : nippon.com

Japanese Opposition Demands Five-Year Fiscal Consolidation Roadmap.

April 20, 2026 at 2:24 AM
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The Failure of Protectionism: Analyzing the Real-World Consequences of Modern Trade Wars
Image Source : newsday.co.zw
Economy•
April 19, 2026 at 10:18 PM

The Failure of Protectionism: Analyzing the Real-World Consequences of Modern Trade Wars.

Recent data from 2025-2026 shows that US tariff policies have failed to resolve trade deficits, instead causing a 'boomerang effect' where deficits simply shifted to other nations while China continues to expand its global trade dominance.

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Finance

Strategic Use of Tax Refunds: Why More Americans Are Prioritizing Debt Reduction.

April 16, 2026 at 10:36 AM

As tax season arrives, many Americans are shifting their focus from spending to financial stability, with a significant number using their tax refunds to tackle high-interest debt and improve long-term financial health.

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Strategic Use of Tax Refunds: Why More Americans Are Prioritizing Debt Reduction
Image Credit : gobankingrates.com
Economy
Governments Cautioned Against Expanding Fiscal Deficits Amid Rising Global Aid Demands
Image Source : washingtonpost.com

Governments Cautioned Against Expanding Fiscal Deficits Amid Rising Global Aid Demands.

April 8, 2026 at 11:14 AM
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Local News

Parliamentary Committee Rejects Proposed Strategic Investment Tax Incentives.

The Committee on Public Finance (COPF) has halted a new gazette aimed at regulating Strategic Development Projects (SDP) tax incentives, citing flawed criteria and unfair biases against manufacturing.

April 4, 2026 at 7:28 PM
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International News
A Decade After the Panama Papers: Assessing the Impact of the World's Largest Financial Data Leak
Image Source : transparency.org

A Decade After the Panama Papers: Assessing the Impact of the World's Largest Financial Data Leak.

April 3, 2026 at 10:15 AM
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Italy's Fiscal Target Missed: Budget Deficit Climbs Above EU Threshold
Image Source : ilmessaggero.it
Economy•
April 3, 2026 at 9:18 AM

Italy's Fiscal Target Missed: Budget Deficit Climbs Above EU Threshold.

Italy's budget deficit reached 3.1% of its GDP last year, exceeding the European Union's fiscal ceiling and marking a significant challenge for Prime Minister Giorgia Meloni's administration.

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