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Sri Lanka's best kept secret
The lack of fiscal transparency is a key factor that contributed to the present crisis and loss of credibility of the government, both at home and abroad. Several commitments made by the government in its agreement with the International Monetary Fund (IMF), and several recommendations made by the IMF in its latest governance diagnostic on Sri Lanka, highlight the importance of improving fiscal transparency.
Featured Insight
Sri Lanka's best kept secret
The lack of fiscal transparency is a key factor that contributed to the present crisis and loss of credibility of the government, both at home and abroad. Several commitments made by the government in its agreement with the International Monetary Fund (IMF), and several recommendations made by the IMF in its latest governance diagnostic on Sri Lanka, highlight the importance of improving fiscal transparency.
Featured Insight
Sri Lanka's best kept secret
The lack of fiscal transparency is a key factor that contributed to the present crisis and loss of credibility of the government, both at home and abroad. Several commitments made by the government in its agreement with the International Monetary Fund (IMF), and several recommendations made by the IMF in its latest governance diagnostic on Sri Lanka, highlight the importance of improving fiscal transparency.
Featured Insight
Sri Lanka's best kept secret
The lack of fiscal transparency is a key factor that contributed to the present crisis and loss of credibility of the government, both at home and abroad. Several commitments made by the government in its agreement with the International Monetary Fund (IMF), and several recommendations made by the IMF in its latest governance diagnostic on Sri Lanka, highlight the importance of improving fiscal transparency.
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How Much Do Casinos Owe the Inland Revenue Department?
In 2015, the government imposed a one-off Casino Industry levy of LKR 1 Bn each on the 4 Casinos established in Sri Lanka. As a result, a total of LKR 4 Bn was owed to the Inland Re...
2021-10-07
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Tariffs on Powdered Milk
Majority of Import taxes pertaining to milk powder were removed with effect from the 12th of August 2021. The HS codes in relation to the removal of taxes are 040210, 040221 and 040229.
2021-10-01
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Effectiveness of Tax Amnesty in Sri Lanka
On 9 July 2021, the government gazetted a new finance bill aimed to indemnify individuals who voluntarily disclose their hitherto undisclosed income—that is to a provide a tax amnesty.
2021-08-05
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