In October 2023, Sri Lanka's official remittances surged to $517.4 million, a 46% increase from a year prior, attributed to improved exchange rates and expatriates sending more earnings. Despite this rise, official remittances have decre...

Sri Lanka has increased the special commodity levy (SCL) on sugar from 0.25 rupees to 50 rupees as of November 2, as per a government document signed by President Ranil Wickremesinghe in his capacity as Finance Minister. This move comes afte...

The government has announced a VAT rate increase from 15% to 18% effective from January 1, 2024, to meet revenue targets set by the International Monetary Fund (IMF). Despite a significant 51% increase in tax receipts during the first nine m...

Sri Lanka's services exports surged by 55.6% to $2.3 billion, driven by ICT/BPO, construction, financial services, transport, and logistics. The country's total goods and service exports for the first nine months of 2023 amounted to...