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What Caused the Rise in Tax Revenue from 2021 to 2022?

In the Central Bank's Annual Report for 2022, the government's revenues witnessed a notable surge of 38%, soaring from Rs 1,484 billion to Rs 2,013 billion.

A closer examination of the revenue breakdown reveals that a substantial portion of this growth stems from increments in Value Added Tax (VAT), Personal Income Tax and Corporate Tax, which experienced respective increments of Rs 155 billion and Rs 212 billion. 

Improving fiscal consolidation will be of paramount importance as Sri Lanka advances in its IMF program.

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Hi, Thank you very much shareing these important figures in social media. May all Sri Lankans aware of these kind of important information and these kind of web sites llike
01 Jul 2023
Thank you for your comment! Glad it was insightful.
Public Finance
04 Jul 2023
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