Analysing Sri Lanka's Property market, investment options and latest property news in Sri Lanka
Monday, 30 June 2014
Residential businesses on verge of collapse
Residences converted into business premises in local government authorities of Colombo and outside are on the verge of closing down amidst high service charges and commercial tax being levied by the authorities, businessmen complained.
Charges range from Rs. 150,000 to Rs. 500,000 per annum, they said.
They alleged that the Urban Development Authority (UDA) is taking action to allow the natural death of small businesses operating in residential areas by levying high service charges.