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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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SriLankan loses Rs. 12.9 b in Q1
SriLankan Airlines recorded a Rs. 12.9 billion net loss in Q1 FY25, driven by cash flow challenges, legacy issues, and financial costs from past debt. ...
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Record Export Revenue of US$ 15 Bn in 2021 - Merchandise exports cross US$ 12 Bn, An increase of 23 per cent over 2020,Gains in all export markets
Sri Lanka has recorded an export revenue of US$ 15.12 billion for 2021, according to Trade Minister Dr. Bandula Gunawardena. This is an increase of 23 per cent compared to the previous year (2020), when the export revenue was reported to be...
2022-01-28
Daily News
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National inflation hits fresh high in December amid soaring food prices
Sri Lanka’s headline inflation measured by the National Consumer Price Index (NCPI) hit 14 percent in the twelve months to December 2021— touching a fresh high from November’s 11.1 percent—the...
2022-01-24
Daily mirror
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Rs. 5,000 allowance for SOE employees, but with conditions
The Government has decided to provide a monthly allowance of Rs. 5000 to employees of State-Owned Enterprises (SOEs) such as corporations and statutory boards
2022-01-23
Sunday Times
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India pledges approx. US$ 2.415B
India has pledged a whopping US$ 2.415 billion to Sri Lanka owing to the current financial crisis mainly caused by external debt payments and a dearth of US dollars. This includes the US$ 500 million credit line, to purchase fuel....
2022-01-22
Ceylon Today
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