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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.
විදසුන්
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.
විදසුන්
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.
විදසුන්
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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Sri Lanka to sign debt restructuring MoU with bilateral creditors before IMF review next month
Sri Lanka plans to sign an MoU with the Official Creditor Committee of the Paris Club of Nations and the Export-Import Bank of China to restructure its debts before the completion of an IMF Executive Board review.
2024-05-23
Daily Mirror
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Govt. ends imports licencing of select products but slaps higher taxes
The Government has done away with licencing of non-essential imports, a move enforced in March but slapped higher taxes as a restrictive measure to better manage the pressure on scarce foreign reserves.
2022-06-02
Daily FT
වැඩිදුර කියවන්න
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 Keynes...
2022-06-01
EconomyNext
වැඩිදුර කියවන්න
World Bank rules out bridging finance to Sri Lanka until it gets its policy framework in order
The World Bank has ruled out bridging finance or new loan commitments to crisis-hit Sri Lanka until the nation’s economy sets up an adequate macroeconomic policy framework. However, the WB has said that it is reshuffling the already al...
2022-05-26
Island
වැඩිදුර කියවන්න
Debt restructuring teams likely to receive Cabinet nod this week
IMF expected to issue statement on progress of technical level talks with Sri Lanka shortly. The Central Bank said they have finalised the two sets of financial and legal advisors to negotiate with multiple creditors of Sri Lanka and th...
2022-05-23
Daily Mirror
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