Topics
Explore
Featured Insight
2023 Budget's revenue target missed by LKR 382 Bn
The Ministry of Finance Annual Report, released on 31st May 2024, shows that in 2023, total revenue including grants fell short of the Budget target by LKR 382 billion or 11%. In 2023, actual total revenue and grants amounted to LKR 3,074 billion, while the approved estimates set at the end of 2022 for 2023 were LKR 3,456 billion. Among the revenue components, VAT contributed the most to the shortfall, accounting for over half of the gap, missing its estimate by LKR 214 billion or 24%. Excise duty also significantly underperformed, falling short by LKR 88 billion. Conversely, some revenue components exceeded their approved estimates. Revenue from Withholding Taxes and Pay-As-You-Earn (PAYE) taxes made surpluses of LKR 68 billion and LKR 45 billion, respectively, or 76% and 45% above the target. This increase could be due to the reintroduction of Withholding Taxes and PAYE at the beginning of 2023.
Featured Insight
2023 Budget's revenue target missed by LKR 382 Bn
The Ministry of Finance Annual Report, released on 31st May 2024, shows that in 2023, total revenue including grants fell short of the Budget target by LKR 382 billion or 11%. In 2023, actual total revenue and grants amounted to LKR 3,074 billion, while the approved estimates set at the end of 2022 for 2023 were LKR 3,456 billion. Among the revenue components, VAT contributed the most to the shortfall, accounting for over half of the gap, missing its estimate by LKR 214 billion or 24%. Excise duty also significantly underperformed, falling short by LKR 88 billion. Conversely, some revenue components exceeded their approved estimates. Revenue from Withholding Taxes and Pay-As-You-Earn (PAYE) taxes made surpluses of LKR 68 billion and LKR 45 billion, respectively, or 76% and 45% above the target. This increase could be due to the reintroduction of Withholding Taxes and PAYE at the beginning of 2023.
Featured Insight
2023 Budget's revenue target missed by LKR 382 Bn
The Ministry of Finance Annual Report, released on 31st May 2024, shows that in 2023, total revenue including grants fell short of the Budget target by LKR 382 billion or 11%. In 2023, actual total revenue and grants amounted to LKR 3,074 billion, while the approved estimates set at the end of 2022 for 2023 were LKR 3,456 billion. Among the revenue components, VAT contributed the most to the shortfall, accounting for over half of the gap, missing its estimate by LKR 214 billion or 24%. Excise duty also significantly underperformed, falling short by LKR 88 billion. Conversely, some revenue components exceeded their approved estimates. Revenue from Withholding Taxes and Pay-As-You-Earn (PAYE) taxes made surpluses of LKR 68 billion and LKR 45 billion, respectively, or 76% and 45% above the target. This increase could be due to the reintroduction of Withholding Taxes and PAYE at the beginning of 2023.
Featured Insight
2023 Budget's revenue target missed by LKR 382 Bn
The Ministry of Finance Annual Report, released on 31st May 2024, shows that in 2023, total revenue including grants fell short of the Budget target by LKR 382 billion or 11%. In 2023, actual total revenue and grants amounted to LKR 3,074 billion, while the approved estimates set at the end of 2022 for 2023 were LKR 3,456 billion. Among the revenue components, VAT contributed the most to the shortfall, accounting for over half of the gap, missing its estimate by LKR 214 billion or 24%. Excise duty also significantly underperformed, falling short by LKR 88 billion. Conversely, some revenue components exceeded their approved estimates. Revenue from Withholding Taxes and Pay-As-You-Earn (PAYE) taxes made surpluses of LKR 68 billion and LKR 45 billion, respectively, or 76% and 45% above the target. This increase could be due to the reintroduction of Withholding Taxes and PAYE at the beginning of 2023.
Data
Reports
Acts and Gazettes
Insights
Dashboards
Annual Budget Dashboard
Budget Promises
Fiscal Indicators
Fuel Price Tracker
IMF Tracker
Infrastructure Watch
PF Wire
About Us
EN
English
සිංහල
தமிழ்
;
Thank You
Free and Open Access to
Public Finance Data and Analysis
Home
PF Wire
PF Wire
Featured
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. ...
2024-11-05
The Morning
Read More
Filter By
Topic
Budget 2021
Budget 2022
Budget 2023
Budget 2024
International Monetary Fund
Articles
Revenue
Expenditure
Debt
Employee Provident Fund (EPF)
Financing
Agriculture and Irrigation
Civil Administration
Defence and Public Order
Education
Energy and Water Supply
Environment
Health
Social Protection and Welfare
Transport and Communication
Urban Development and Housing
IMF decision on ISB restructuring framework expected soon
The Ministry of Finance expects the IMF to confirm soon whether Sri Lanka's restructuring framework for International Sovereign Bonds (ISBs) complies with IMF programme parameters, following an early July agreement with...
2024-07-28
The Morning
Read More
SL is closer to rating agencies’ determination on solvency status: CB
Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, is optimistic that completing debt restructuring and beginning repayments will remove the country's 'default' status and restore access to...
2024-07-27
Daily Mirror
Read More
SL still few more steps away from celebrating debt restructuring success
Sri Lanka is nearing the completion of its debt restructuring but must continue with economic reforms and avoid past mistakes of abandoning them after achieving stability, as stated by Treasury Secretary Mahinda Siriwardana...
2024-07-25
Daily Mirror
Read More
Workers’ remittance, tourism muster USD 4.5 Bn by June 2024
Sri Lanka's foreign reserves are on the rise thanks to strong performances in both workers' remittances and tourism revenue. These positive trends are contributing to a strengthening currency and healthy foreign exc...
2024-07-22
Daily News
Read More
page
13
of
154
‹
1
2
...
13
...
153
154
›
