Sri Lanka missed its tax revenue target in 2022, falling short by Rs 101 bn. Prioritizing fiscal consolidation has been given greater importance as part of the current IMF program. A series of budget deficits, excessive borrowing, and poor debt management paved way to the economic crisis which began in 2021. This infographic looks at a breakdown of government tax revenue, comparing actual figures with its revised estimate. Excise taxes on liquor and VAT contributed the most to the overall short fall in tax revenue.
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