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Featured Insight
Government revenue set to rise by LKR 922 billion in 2025— What’s driving the increase?
VAT revenue is projected to rise by LKR 305 billion in 2025, driving one-third of the total increase in government revenue. It is the single largest revenue source, contributing 32 percent of the government’s total revenue. Of this, LKR 193 billion is expected from VAT on imports. Excise (Special Provisions) Duty is forecast to add LKR 215 billion, driven largely by motor vehicle duties, which alone are expected to contribute LKR 171 billion. Taxes on international trade and income tax are set to increase by LKR 174 billion and LKR 141 billion, respectively. Other taxes and levies will add LKR 51 billion, while non-tax revenue is expected to contribute LKR 37 billion.
Featured Insight
Government revenue set to rise by LKR 922 billion in 2025— What’s driving the increase?
VAT revenue is projected to rise by LKR 305 billion in 2025, driving one-third of the total increase in government revenue. It is the single largest revenue source, contributing 32 percent of the government’s total revenue. Of this, LKR 193 billion is expected from VAT on imports. Excise (Special Provisions) Duty is forecast to add LKR 215 billion, driven largely by motor vehicle duties, which alone are expected to contribute LKR 171 billion. Taxes on international trade and income tax are set to increase by LKR 174 billion and LKR 141 billion, respectively. Other taxes and levies will add LKR 51 billion, while non-tax revenue is expected to contribute LKR 37 billion.
Featured Insight
Government revenue set to rise by LKR 922 billion in 2025— What’s driving the increase?
VAT revenue is projected to rise by LKR 305 billion in 2025, driving one-third of the total increase in government revenue. It is the single largest revenue source, contributing 32 percent of the government’s total revenue. Of this, LKR 193 billion is expected from VAT on imports. Excise (Special Provisions) Duty is forecast to add LKR 215 billion, driven largely by motor vehicle duties, which alone are expected to contribute LKR 171 billion. Taxes on international trade and income tax are set to increase by LKR 174 billion and LKR 141 billion, respectively. Other taxes and levies will add LKR 51 billion, while non-tax revenue is expected to contribute LKR 37 billion.
Featured Insight
Government revenue set to rise by LKR 922 billion in 2025— What’s driving the increase?
VAT revenue is projected to rise by LKR 305 billion in 2025, driving one-third of the total increase in government revenue. It is the single largest revenue source, contributing 32 percent of the government’s total revenue. Of this, LKR 193 billion is expected from VAT on imports. Excise (Special Provisions) Duty is forecast to add LKR 215 billion, driven largely by motor vehicle duties, which alone are expected to contribute LKR 171 billion. Taxes on international trade and income tax are set to increase by LKR 174 billion and LKR 141 billion, respectively. Other taxes and levies will add LKR 51 billion, while non-tax revenue is expected to contribute LKR 37 billion.
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Sri Lanka moves closer to finalising debt restructuring with Japan
Sri Lanka’s Cabinet approved a debt restructuring agreement with JICA, following bipartisan negotiations and legal clearance, aiming to boost investor confidence and secure further international financial support....
2025-02-06
Daily FT
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Sri Lanka likely to lose IMF deadline due to China’s lack of interest
Sri Lanka is likely to miss the December deadline for securing the International Monetary Fund (IMF) loan since the main bilateral debtor China has shown little or no interest in restructuring debt with Sri Lanka, financial analysts based in...
2022-11-19
Daily Mirror
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Sri Lanka tax revenues surge 38-pct to August 22 as economy inflates, budget deficit down
Sri Lanka state revenues surged 38 percent from a year earlier to 1,448 billion rupees in the eight months to August 2022, Finance Ministry data showed as the economy inflated in the wake of a currency collapse after two years of money print...
2022-11-18
Economy Next
மேலும் வாசிக்க
FVMP debt increases to Rs 3.42T
Government of Sri Lanka’s (GoSL’s) face value (FV) MP debt increased by 5.63 per cent (Rs 182,411.82 million) to a record high Rs 3,424,696.95 million (Rs 3.4247 trillion) on Tuesday (15 November), due to a persistent lack of rev...
2022-11-17
Ceylon Today
மேலும் வாசிக்க
Sri Lanka budget 2023, key tax changes
Sri Lanka President Ranil Wickremesinghe has announced tax changes in an effort to boost revenues and also make external trade easier, according to a budget presented for 2023.
2022-11-15
Economy Next
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