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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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Defence and Public Order
Defence and Public Order
Recent trends and developments in government expenditure on defence.
Defence budget for uniforms and diets alone up by LKR 75 Bn
Based on the 2024 budget estimates, expenditure on uniforms and diets in the defence sector is projected to increase by a significant LKR 75 billion, a 258 percent rise compared to 2022.
From The PF Wire
Source:
Daily FT
Govt. signs $ 49 m jet upgrade deal with Israel Ae...
The Ministry of Defence in May signed a $ 49 million deal with Israel Aerospace Industries (IAI) to upgrade five Kfir fighter jets of the Sri Lanka Air Force (SLAF) No. 10 Squadron, it has been revealed.
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Source:
Daily News
Widows, parents of fallen soldiers to get Rs. 25,0...
President Gotabaya Rajapaksa has submitted a proposal to the Cabinet to pay a monthly allowance of Rs.25,000 to the living parents of married or deceased military personnel who had died or went missing in operational areas during the conflic...
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Insight on Defence and Public Order
Defence budget for uniforms and diets al...
Based on the 2024 budget estimates, expen...
How much Does Sri Lanka Allocate for the...
The allocation for...
Expenditure on the Police & Public Secur...
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Budget 2021: Defence
The 2021 Budget Debate for the Ministry of Defence is happening today (3 Dec). This yea...
Expenditure on the Defence Sector (2010...
Featured
Composition of Sri Lanka's Gross Official Reserves
The reported gross official reserves as of February 2022 stood at USD 2,311 MN, out of which 98% (USD 2,242 MN) consisted of short-term swaps maturing within 12 months. Whilst the quantity of reserves is important it is eq...
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Let’s Shield the EPF with the Instincts of Winston...
This article was compiled by Dr. Nishan de Mel. Dr. Nishan de Mel is the Executive Director of Verité Research and an economist with extensive acade...
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Backwards in blacklisting: Enabling corruption in...
Subhashini Abeysinghe is a Research Director at Verité Research and an economist specializing in international trade. Subhashini has worked for the Ceylon Chamber of Commerce (CCC) for nearly 10 year...
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