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VAT to drive revenue growth in 2024
Sri Lankan budgets have consistently overestimated the capacity to raise revenue. Therefore, it is prudent to examine from where the 45% increase in revenue is expected. The chart above shows that more than half the increase (56%) is expected from increasing the VAT rate and reducing exemptions on it. In short, the country expects to make more organisations pay a higher rate of VAT for a larger set of goods and services.
Featured Insight
VAT to drive revenue growth in 2024
Sri Lankan budgets have consistently overestimated the capacity to raise revenue. Therefore, it is prudent to examine from where the 45% increase in revenue is expected. The chart above shows that more than half the increase (56%) is expected from increasing the VAT rate and reducing exemptions on it. In short, the country expects to make more organisations pay a higher rate of VAT for a larger set of goods and services.
Featured Insight
VAT to drive revenue growth in 2024
Sri Lankan budgets have consistently overestimated the capacity to raise revenue. Therefore, it is prudent to examine from where the 45% increase in revenue is expected. The chart above shows that more than half the increase (56%) is expected from increasing the VAT rate and reducing exemptions on it. In short, the country expects to make more organisations pay a higher rate of VAT for a larger set of goods and services.
Featured Insight
VAT to drive revenue growth in 2024
Sri Lankan budgets have consistently overestimated the capacity to raise revenue. Therefore, it is prudent to examine from where the 45% increase in revenue is expected. The chart above shows that more than half the increase (56%) is expected from increasing the VAT rate and reducing exemptions on it. In short, the country expects to make more organisations pay a higher rate of VAT for a larger set of goods and services.
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SL still few more steps away from celebrating debt restructuring success
Sri Lanka is nearing the completion of its debt restructuring but must continue with economic reforms and avoid past mistakes of abandoning them after achieving stability, as stated by Treasury Secretary Mahinda Siriwardana...
2024-07-25
Daily Mirror
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IMF waiting for Sri Lanka to do the needful - Staff-level deal only an ad-referendum
The International Monetary Fund (IMF) is waiting for Sri Lanka to comply with all the applicable IMF policies before further steps can be taken. In an emailed response to Daily Mirror, Peter Breuer, Senior Mission Chief for Sri Lanka and Mas...
2022-10-07
Daily Ft
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Govt. expedites welfare benefits to over 3 mn families
President Ranil Wickremesinghe has instructed to expedite the program to provide welfare benefits to 3.1 million low-income families in Sri Lanka.
2022-10-07
Daily Ft
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ADB assures more support but not debt cancellation
Instead of offers on debt cancellation, the Asian Development Bank (ADB)President Masatsugu Asakawa assured that they would pro-vide more support to Sri Lanka to get out of the economic crisis.
2022-10-02
The Island
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Japan signs fresh emergency grant aid of $ 3.5 m for SL; brings total to $ 6.5 m
The diplomatic missions of Japan in Rome, Geneva and New York recently signed the official documents to commit the Emergency Grant Aid of $ 3.5 million for Sri Lanka with WFP, IFRC and UNICEF Headquarters.
2022-10-01
Daily Ft
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