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Featured Insight
WHT and PAYE had the largest growth in Q3 2023
The Fiscal Management Report 2024, recently released by the Ministry of Finance, offers a comprehensive analysis of the government's revenue streams. A notable highlight from the report is the remarkable growth in revenue from two key components: Withholding Tax (WHT) and Pay As You Earn (PAYE). The first nine months of 2023 saw these segments register an increase of 498% and 673% respectively, compared to the same period in the previous year. This substantial growth can be attributed to the reinstatement of WHT (set at a rate of 5% for interest income) and PAYE in 2023. Both taxes were previously discontinued in 2019 but reintroduced as part of a broader fiscal strategy.
Featured Insight
WHT and PAYE had the largest growth in Q3 2023
The Fiscal Management Report 2024, recently released by the Ministry of Finance, offers a comprehensive analysis of the government's revenue streams. A notable highlight from the report is the remarkable growth in revenue from two key components: Withholding Tax (WHT) and Pay As You Earn (PAYE). The first nine months of 2023 saw these segments register an increase of 498% and 673% respectively, compared to the same period in the previous year. This substantial growth can be attributed to the reinstatement of WHT (set at a rate of 5% for interest income) and PAYE in 2023. Both taxes were previously discontinued in 2019 but reintroduced as part of a broader fiscal strategy.
Featured Insight
WHT and PAYE had the largest growth in Q3 2023
The Fiscal Management Report 2024, recently released by the Ministry of Finance, offers a comprehensive analysis of the government's revenue streams. A notable highlight from the report is the remarkable growth in revenue from two key components: Withholding Tax (WHT) and Pay As You Earn (PAYE). The first nine months of 2023 saw these segments register an increase of 498% and 673% respectively, compared to the same period in the previous year. This substantial growth can be attributed to the reinstatement of WHT (set at a rate of 5% for interest income) and PAYE in 2023. Both taxes were previously discontinued in 2019 but reintroduced as part of a broader fiscal strategy.
Featured Insight
WHT and PAYE had the largest growth in Q3 2023
The Fiscal Management Report 2024, recently released by the Ministry of Finance, offers a comprehensive analysis of the government's revenue streams. A notable highlight from the report is the remarkable growth in revenue from two key components: Withholding Tax (WHT) and Pay As You Earn (PAYE). The first nine months of 2023 saw these segments register an increase of 498% and 673% respectively, compared to the same period in the previous year. This substantial growth can be attributed to the reinstatement of WHT (set at a rate of 5% for interest income) and PAYE in 2023. Both taxes were previously discontinued in 2019 but reintroduced as part of a broader fiscal strategy.
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2022ல் அரசுக்குச் சொந்தமான நிறுவனங்களின் நட்டங்கள் அதற்கு முந்தைய ஆண்டுகளின் வருடாந்த நட்டங்களை விட அதிகம்
2022ம் ஆண்டின் முதல் நான்கு மாதங்களில் அரசுக்குச் சொந்தமான நிறுவனங்களின் மொத்த நட்டமானது ரூ.860 பில்லியன் ஆகும். இது அரசுக்குச் சொந்தமான நிறுவனங்களின் 2021ம் ஆண்டுக்கான வருடாந்...
பி.எஃப். வயரில் இணைப்பிலிருந்து
Source:
EconomyNext
Sri Lanka’s Sathosa restructuring will see CWE and...
The restructuring of Sri Lanka's Cooperative Wholesale Establishment (CWE), also known as Sathosa, will involve merging CWE with the state-run Lanka Sathosa retail chain. The proposed restructuring aims to improve the financial standing of CWE and pass on the bene...
மேலும் வாசிக்க
Source:
Daily Mirror
Over Rs. 216 Mn in COVID funds credited to Preside...
A decision has been taken to wind up operations of the “Covid 19 Health and Social Security Fund”, which was established to provide relief to those affected by the Covid 19 epidemic, and over Rs. 216 million remaining in the Covi...
மேலும் வாசிக்க
Source:
Economy Next
Energy Minister reveals the main reasons for CPC l...
Power and Energy Minister Kanchana Wijesekara in a Twitter message on August 5 said that there are multiple reasons for the CPC to operate under losses, with selling at subsidized rates, rupee depreciation, dues from government-owned institu...
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நுண்ணறிவு செலவினம்
Sri Lanka’s COVID-19 relief compared to...
In March, the Government of Sri Lanka announced a Rs.5,000 handout to vulnerable communities affe...
Open Budget Survey 2019
Government budget decisions – what...
Where do government salaries go?
The government spends 22% of its total expenditure on salaries for g...
What Happens When a Government Body Runs...
When a government body runs out of money,...
Budget Promises 2018: Are Ministries Com...
The RTI Act guarantees citizens the right...
Budget Promises 2018: Most Responsive In...
Are our ministries open about the progres...
Budget Promises 2018: Most Closed Instit...
Are our ministries open about the progres...
Budget Promises 2018: Openness of Promis...
By making it easier for people to find ou...
Budget Promises 2018: Forgotten Promises
What are the forgotten promises from Budg...
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விவரணம்
Restructuring Domestic Debt Must be Credible, Fast...
This article was compiled by Professor Udara Peiris. Udara Peiris joined Oberlin in the fall of 2022. He was previously a tenured Associate Professor of Fi...
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Defence budget for uniforms and diets alone up by...
Based on the 2024 budget estimates, expenditure on uniforms and diets in the defence sector is projected to increase by a significant LKR 75 billion, a 258 percent rise compared to 2022.
மேலும் வாசிக்க
Sanitary Napkins: Subjected to Unreasonably High T...
The total tax burden on Sanitary napkins is 47.1%, this is significantly higher than the tax burden of selected non-essentials items, gold jewelry, raw silk, golf clubs and golf balls and military artill...
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