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Revenue
Insights and analysis of government revenue.
Sri Lanka's Unique Revenue Problem
Tax to GDP and GDP per capita for most South Asian countries shows a positive relationship as can be show by the infographic below. For example Bhutan had a tax to GDP of 10% in and GDP per capita of 4% in the year 2000....
From The PF Wire
Source:
Daily Mirror
Slower increase in excise duty expected
Sri Lanka's excise duties, which rose by 64% in the 12 months through January 2024, are expected to increase more gradually in line with inflation, though higher-than-expected hikes could still impact sales volumes,...
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Source:
The Morning
IRD collects 55% defaulted taxes
Sri Lanka's IRD collected 55% of defaulted taxes outside the appeals process by June 2024 and exceeded its tax target, collecting Rs. 902 billion against a target of Rs. 826 billion. Judicial reforms are being made to e...
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Source:
Sunday Times
IRD warns of more revenue loss; urgent tax reforms...
Secretary of the Inland Revenue Service Union (IRSU), told the Sunday Times that the IRD’s revenue had fallen from Rs1,025 billion in 2019 to just Rs 424 billion in 2020, due to the Government’s decision to drastically slash exis...
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Insight on Revenue
Sri Lankans enjoy most tax-free income i...
The comparison of Sri Lanka’s perso...
2023 Budget's revenue target missed by L...
The Ministry of Finance Annual Report, re...
Interest Costs Have Been Eating Up Reven...
In 2023, for the first time in history, t...
How did the government revenue rise by 5...
The Central Bank's Annual Economic Re...
Revenue Foregone by Government Due to Ta...
For the fiscal year 2022/23 (April to Mar...
Primary and Budget Balances move in oppo...
The Fiscal Management Report 2024 publish...
VAT to drive revenue growth in 2024
Sri Lankan budgets have consistently over...
VAT to reach 20 year high from January
The Cabinet recently sanctioned an increa...
Tax revenue misses IMF target in 1st qua...
According to the 2022 Annual Report from...
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Featured
Sri Lanka Has The Highest Inflation Amongst South...
Sri Lanka, amidst facing one of its worst economic crisis, is currently experiencing rapidly rising inflation. The inflation increased to 15.1% year-on-year in February 2022, a 13-year high. When compared against other...
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Is Sri Lanka Addicted to Missing Revenue Targets?
This article was compiled by Dr. Nishan de Mel. Dr. Nishan de Mel is the Executive Director of Verité Research and an economist with extensive acade...
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Government introduces new expenditure and relief t...
On 05 December 2024, the government presented supplementary estimates totalling LKR 219.4 billion for the year, which was not included in the original 2024 budget. Supplementary allocations are typically introduced to address unforeseen emer...
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