All sorts of tax concessions (reported as “tax expenditure”)costs the government almost a trillion rupees a year in potential revenue.  In the financial year 2023/24 the tax expenditure statement published by the gove...

In 2024, the Maldives is expected to spend 5.1% of its GDP on interest payments for government debt, up from 2.6% in 2021. In 2019, it was only 1.7% which is one-third of the current level. 

VAT revenue is projected to rise by LKR 305 billion in 2025, driving one-third of the total increase in government revenue. It is the single largest revenue source, contributing 32 percent of the government’s total revenue. Of this, LK...