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විදසුන්
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.
විදසුන්
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.
විදසුන්
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.
විදසුන්
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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$ 5 b potential savings due to int. payment reduction
Sri Lanka will save $5 billion through reduced interest payments on restructured bilateral debt, with an extended repayment period of 8 years, starting in 2028 and ending in 2043.
2024-07-03
The Morning
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ප්රවාහනය සහ සන්නිවේදනය
නාගරික සංවර්ධනය සහ නිවාස
Sri Lanka to begin second round of talks with ISB holders: report
Sri Lanka is planning a second round of talks with sovereign bondholders to restructure $12.5 billion in bonds and $1.7 billion in past due interest, using novel macro-linked and plain vanilla bonds, amid expectations of a...
2024-06-25
Economy Next
වැඩිදුර කියවන්න
Optimism grows for SL’s bankruptcy exit
Sri Lanka is hopeful about shedding its 'bankrupt nation' label soon, with key meetings scheduled this week with creditor nations (Paris Club, India, and China's Exim Bank) to finalize debt restructuring....
2024-06-24
Daily Mirror
වැඩිදුර කියවන්න
IMF has now become part of SL’s problem than solution: Dr. Nishan de Mel
Verité Research's Executive Director critiques the proposed Imputed Rental Income Tax and other tax measures under the IMF program, alleging the IMF has not publicly disclosed Technical Assistance reports that ju...
2024-06-20
Daily FT
වැඩිදුර කියවන්න
Weak restructuring of new SOE Co. can lead to risks: IMF
The IMF highlights concerns that the proposed Temasek-type holding company for SOEs in Sri Lanka could potentially undermine transparency and accountability if not structured and governed effectively. There is a risk that a...
2024-06-19
The Morning
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