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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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Reform delays could suspend IMF programme, jeopardizing recovery
The Bloomberg Intelligence report warns that Sri Lanka's economic recovery is at risk if reforms stall after the presidential elections, potentially leading to a suspension of the IMF program. It emphasizes the need...
2024-08-29
Daily Mirror
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PM promises a new budget with capital expenditure reductions
Prime Minister Ranil Wickremesinghe who met yesterday with representatives from the Chambers of Commerce, the Treasury and Economic Advisers, said a new budget would be presented with proposals for the significant reduction of capital expend...
2022-05-23
Daily Mirror
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Exporter dollar conversion and surrender rules bring in US$ 300mn monthly: CB
The Central Bank last week disclosed that it collects every month up to US$ 300 million from exporter dollar conversions and surrender requirements, which helps significantly to provide dollars to finance the essential imports such as fuel,...
2022-05-23
Daily Mirror
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New budget to replace 2022 current budget
Sri Lanka’s new administration headed by Prime Minister Ranil Wickremesinghe is gearing up to present a new, relief-based budget, around next month, replacing budget 2022 – for the first time in history since independence
2022-05-22
Sunday Times
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Sri Lanka succumbs to hard default
Sri Lanka yesterday succumbed to an embarrassing “hard default” as the grace period for the International Sovereign Bonds (ISB) Coupon payment lapsed.
2022-05-19
Daily FT
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