The International Monetary Fund (IMF) recommends Sri Lanka to increase tax collection, end corporate tax exemptions, and undergo macroeconomic reforms. Notably, it emphasizes securing agreements with private bondholders and China. Despite ob...

The Sri Lankan government plans to raise the income tax threshold from Rs. 100,000 to Rs. 150,000 per month starting next month. This measure aims to encourage more people to register for mandatory income tax, enhancing tax system transparen...

The GDP growth rate of Sri Lanka for 2023 was reported as -2.3%, indicating a contraction, according to the Department of Census and Statistics (DCS). Despite this overall decrease, the agricultural sector experienced a growth of 2.6%, contrasting with declines in the industrial and services sect...

In January 2024, Sri Lanka witnessed a significant decrease in private credit by 52.2 billion rupees, following increases in December and November of the previous year. This fluctuation came amidst a backdrop of rising imports and a value added tax hike anticipated in December, suggesting a spike...