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Featured Insight
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.
Featured Insight
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.
Featured Insight
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.
Featured Insight
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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National consumer prices soften in March
Consumer prices in Sri Lanka, as measured by the National Consumer Price Index (NCPI), exhibited a softening trend in March. While the broader index showed a 2.5 percent increase from a year earlier, down from 5.1 percent in February, monthl...
2024-04-23
Daily Mirror
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IMF to meet with China, India, Paris Club on debt relief today
The International Monetary Fund, World Bank and India will host an inaugural meeting to deal with global debt issues Today (17), bringing together creditors including China with borrowing countries to try to hash out solutions for nations with unsustainable debt levels, Bloomberg reported....
2023-02-22
Ceylon Today
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Treasury takes over CPC’s debt owed to People’s Bank
The Treasury has taken over the Ceylon Petroleum Corporation (CPC)’s debt owed to the People’s Bank (PB) which runs into billions of rupees or foreign currency, according to PB Chairman Sujeewa Rajapakse.
2023-02-22
Sunday Times
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Uninterrupted power supply at higher cost
The full result of this tariff revision (66% increase) will come into effect at the end of March or the beginning of April. Uninterrupted power supply at higher cost - Breaking...
2023-02-22
Daily Mirror
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PUCSL nod given for 66% hike in electricity tariff from yesterday
The Public Utilities Commission (PUCSL), on Wednesday (15), approved increasing the electricity tariff by 66 percent from yesterday (15). https://island.lk/pucsl-nod-given-for-66-hike-in-electr...
2023-02-22
The Island
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