Sri Lanka issues gazette hiking value added tax from June 01

Sri Lanka has raised value added tax to 12 percent from 8 percent with effect from June 01 through an extraordinary gazette published at midnight on May 31 as attempts are made to contain a runaway budget deficit engineered in 2019 by Keynesian economists for fiscal stimulus.

EconomyNext

2022-06-01

Related News and Insights

IMF third tranche hinges on proposed PFM Act: Dr....

The proposed Public Financial Management (PFM) Act is crucial for securing the disbursement of the third tranche of the IMF's $3 billion bailout package.

Find Out More

National consumer prices soften in March

Consumer prices in Sri Lanka, as measured by the National Consumer Price Index (NCPI), exhibited a softening trend in March. While the broader index showed a 2.5 percent increase from a year earlier, down from 5.1 percent in February, monthl...

Find Out More

Iran President to open Sri Lanka $514mn irrigation...

Uma Oya, led by Iran's FARAB engineering, combines irrigation, hydropower, and water supply, benefiting Sri Lanka's Moneragala district. It boasts 120MW hydroelectric capacity, gen...

Find Out More

View All