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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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Expenditure
Insights and analysis of government expenditure.
Total SOE Losses in the first four months of 2022 Outweigh Annual Losses in 2021
During the first four months of 2022 the cumulative loss of State-Owned Enterprises (SOEs) amounted to LKR 860 BN. This figure outweighs the annual loss of SOEs in 2021. The top 3 contributors to the increase of the...
From The PF Wire
Source:
Economy Next
Sri Lanka state worker wage cost to rise 0.2-pct t...
Sri Lanka's public sector wage bill is set to increase to 3.8 percent of GDP in 2025 due to proposed salary increments while maintaining a primary surplus of 2.3 percent under the IMF program.
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Source:
Daily Ft
Govt. expedites welfare benefits to over 3 mn fami...
President Ranil Wickremesinghe has instructed to expedite the program to provide welfare benefits to 3.1 million low-income families in Sri Lanka.
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Source:
Daily News
Rs. 3,085.96 m allocated for 544 LG projects
The state ministry of Provincila councils and Local Government (LG) has taken steps to intitiate 544 projects by local government bodies at a cost of Rs. 3,085.96 million for the provision of public services.
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Insight on Expenditure
Government Expenditure from 2012-2021
Government Expenditure increased by 126% over the past decade. Expen...
How did the government finance its expen...
The infographics provides details on government expenditure and the...
Fuel Price Tracker : Methodology
FUEL PRICE TRACKER
A Sri Lankan Household Spends 24% of Av...
Sri Lanka's fuel prices increased rapidly within the last few mo...
Fiscal Performance From January to Novem...
The following infographic compares Sri Lankas' fiscal performance from January to Novemb...
Sri Lanka’s Imports Were 4% Higher in 2...
Sri Lanka’s Imports have grown by 4%...
Contributors to Rising Inflation
Sri Lanka has seen a trend in rising inflation, with inflation reach...
Fiscal Performance From January to Augus...
Latest figures...
Sri Lanka’s Expenditure on COVID-19 Resp...
According to Ministry of Finance, Sri Lan...
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Featured
Sri Lanka's best kept secret
The lack of fiscal transparency is a key factor that contributed to the present crisis and loss of credibility of the government, both at home and abroad. Several commitments made by the government in its agreement with the International Mon...
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“Sugar Scam” is not the Whole Iceberg: “Forestalli...
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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Sanitary Napkins: Subjected to Unreasonably High T...
The total tax burden on Sanitary napkins is 47.1%, this is significantly higher than the tax burden of selected non-essentials items, gold jewelry, raw silk, golf clubs and gol...
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