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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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Education
Recent trends and developments in government expenditure on the education sector.
Sri Lanka’s government education spending is the lowest in South Asia
In 2022, Sri Lanka’s government—both provincial and central—dedicated only 1.5 percent of its GDP to education, including primary, secondary, and tertiary levels. This places Sri Lanka at the bottom of the list for educatio...
From The PF Wire
Source:
Daily Mirror
Accountability crucial for growth and governance i...
Dr. Devarajan asserts that economic reforms and improved governance are imperative for the nation's progress, with both objectives hinging on the principle of accountability.
Read More
Source:
Daily News
Financial literacy vital to save consumers from ab...
Dr. Nandalal Weerasinghe stressed the critical role of financial literacy in empowering consumers to protect themselves from financial frauds and abuses, particularly in the face of growi...
Read More
Source:
Daily Mirror
Verité Research forms Governance and Anti-Corrupti...
Verité Research has established a Governance and Anti-Corruption (GAC) research division under the leadership of Sankhitha Gunaratne. This strategic move comes against the backdrop of widespread, systemic corruption in Sri Lanka and t...
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Insight on Education
Sri Lanka’s government education expendi...
In 2022, Sri Lanka’s government&mda...
Sri Lanka’s government education spendin...
In 2022, Sri Lanka’s government&mda...
Expenditure on the Education Sector : Re...
Expenditure on the Education Sector (201...
Has the Government Fulfilled its Policy...
The National Policy Framework: Vistas...
Budget 2021: Education
The 2021 Budget Debate for the Ministry of Education is happening toda...
Has the Government Fulfilled its Budgeta...
In July, the Ministry of Education stated that approximately 1500 cons...
Featured
Is the Pandemic the Sole Cause for the Depletion i...
Sri Lanka’s usable foreign reserves fell from USD 7,642 MN in 2019 to USD 1,579 MN by the end of 2021. When compared with
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The Problem with Procurement
Sri Lanka’s lack of compliance with the RTI Act and failure to meet IMF Commitments.Sri Lanka’s 2023 IMF Programme includes a commitment to disclose public pro...
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WHT and PAYE had the largest growth in Q3 2023
The Fiscal Management Report 2024, recently released by the Ministry of Finance, offers a comprehensive analysis of the government's revenue streams. A notable highlight from the report is the remarkable growth in revenue from two key co...
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