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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 components: Withholding Tax (WHT) and Pay As You Earn (PAYE). The first nine months of 2023 saw these segments register an increase of 498% and 673% respectively, compared to the same period in the previous year. This substantial growth can be attributed to the reinstatement of WHT (set at a rate of 5% for interest income) and PAYE in 2023. Both taxes were previously discontinued in 2019 but reintroduced as part of a broader fiscal strategy.
Featured Insight
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 components: Withholding Tax (WHT) and Pay As You Earn (PAYE). The first nine months of 2023 saw these segments register an increase of 498% and 673% respectively, compared to the same period in the previous year. This substantial growth can be attributed to the reinstatement of WHT (set at a rate of 5% for interest income) and PAYE in 2023. Both taxes were previously discontinued in 2019 but reintroduced as part of a broader fiscal strategy.
Featured Insight
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 components: Withholding Tax (WHT) and Pay As You Earn (PAYE). The first nine months of 2023 saw these segments register an increase of 498% and 673% respectively, compared to the same period in the previous year. This substantial growth can be attributed to the reinstatement of WHT (set at a rate of 5% for interest income) and PAYE in 2023. Both taxes were previously discontinued in 2019 but reintroduced as part of a broader fiscal strategy.
Featured Insight
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 components: Withholding Tax (WHT) and Pay As You Earn (PAYE). The first nine months of 2023 saw these segments register an increase of 498% and 673% respectively, compared to the same period in the previous year. This substantial growth can be attributed to the reinstatement of WHT (set at a rate of 5% for interest income) and PAYE in 2023. Both taxes were previously discontinued in 2019 but reintroduced as part of a broader fiscal strategy.
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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...
பி.எஃப். வயரில் இணைப்பிலிருந்து
Source:
Daily Mirror
SL likely to see minimum one notch upgrade in sove...
Sri Lanka is likely to see a minimum one notch upgrade in sovereign credit ratings to triple C (CCC) in two to three weeks upon completion of external debt restructuring process, according to Thewarathanthri.
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Source:
Daily FT
Fitch upgrades Bank of Ceylon’s VR and Foreign-Cur...
The Bank of Ceylon’s (BOC) Long-Term Foreign-Currency Issuer Default Rating (IDR) has been updated to ‘CC’ from ‘RD’ (Restricted Default).
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Source:
Daily Mirror
Foreign reserves dip to USD 2.3 BN by October-end
Foreign exchange reserves were measurred at US $2,267.5 down from US $ 2,704.2 million in September as the Central Bank settled US $492.9 million worth foreign liabilities during the month.
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Provincial Council Receipts and Expendit...
The finance commission makes an annual re...
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2015 ஆம்...
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Ceylon Petroleum Corporation: What drive...
Ceylon Petroleum Corporation (CPC) is the state-owned enterprise in...
2020 இல் வரவு செலவுத் திட்டப் பற்றாக்குற...
2019 மற்றும் 2020 காலகட்டத்தில் இலங்கையின...
ஸ்ரீலங்கன் எயார்லைன்ஸ்: வருடாந்த மற்றும்...
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What percentage of shareholding does the...
What percentage of shareholding does the...
Effectiveness of Tax Amnesty in Sri Lank...
On 9 July 2021, the government gazetted a...
2020 மற்றும் 2021ம் ஆண்டுகளில் கோவிட் -1...
பெப்ரவரி 2020 ம...
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விவரணம்
சர்வதேச நாணய நிதியத்தின் உறுப்புரை IV அறிக்கை – மு...
சர்வதேச நாணய நிதியத்தின் ஒப்பந்தத்தின் உறுப்புரை IVன்
மேலும் வாசிக்க
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 procurement contracts through an online fiscal transparen...
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An Overview of IMF Extended Fund Facility
This article was compiled by Professor Udara Peiris and Raj Prabu Rajakulendran. Udara Peiris joined Oberlin in the fall of 2022. He was previously a tenur...
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