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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.
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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නිදහස් හා විවෘත ප්රවේශය
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රජයේ ආදායම් පිළිබඳ විදසුන් සහ විශ්ලේෂණ.
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 r...
පීඑෆ් වයර් පුවත්
මූලාශ්රය:
Daily Mirror
Robust worker remittance flows continue strengthen...
Sri Lankans working abroad sent back US$ 543.8 million in April, slightly eased from US$ 572.4 million in March but substantially higher from US$ 454.0 million a year ago.
වැඩිදුර කියවන්න
මූලාශ්රය:
Sunday Times
IRD warns of more revenue loss; urgent tax reforms...
Secretary of the Inland Revenue Service Union (IRSU), told the Sunday Times that the IRD’s revenue had fallen from Rs1,025 billion in 2019 to just Rs 424 billion in 2020, due to the Government’s decision to drastically slash exis...
වැඩිදුර කියවන්න
මූලාශ්රය:
Daily Mirror
Govt. mulls regulating and taxing online trading p...
The government is contemplating on introducing a system to regulate the online trading platforms and bring some of them under its tax regime, Trade Minister Bandula Gunawardena told Parliament yesterday.
වැඩිදුර කියවන්න
විදසුන් කියවන්න: ආදායම
බදු ආදායම් වර්ග
කෝවිඩ්-19 රජයේ ආදායමට කුමන ආකාරයට බලපායිද...
Overestimations in Revenue Expectations
Governments have consistently overestimated revenue and thes...
Cigarette Tax Indexation: Getting it Rig...
The indexation method introduced in 2019...
Tobacco Policy: Mitigating the Influence...
Sri Lanka ratified the World Health Organ...
The Hidden Side of Cigarette Pricing
The media in Sri Lanka has often misrepre...
Who is responsible for Alternative facts...
The term ‘Alternative Facts’...
ශ්රී ලංකාවේ රාජ්ය ආදායම පිළිබඳ ගැටළුව...
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ශ්රී ලංකාවේ ගෘහස්ථ ණය ප්රතිව්යුහගත කිරීමේ සුවිශ...
දේශීය ණය ප්රතිව්යුහගතකරණය (DDR) සඳහා ශ්රී ලංකාවේ ප්රවේශය එහි ක්රමවේදය තුළ කැපී පෙනේ. සැලකිය යුතු ලෙස, විශ්රාම අරමුදල් සහ මහ බැංකව සතුු හෝල්ඩින්ග්ස් ප්රතිව්යුහගත කිරීම මත කේන්ද්රගත වී ඇත. 1998 සිට...
වැඩිදුර කියවන්න
Sharing the cost of the crisis: The need to restru...
This article was compiled by Professor Udara Peiris. Udara Peiris joined Oberlin in the fall of 2022. He was previously a tenured Associate Professor of Fi...
වැඩිදුර කියවන්න
2023 Budget's revenue target missed by LKR 382 Bn
The Ministry of Finance Annual Report, released on 31st May 2024, shows that in 2023, total revenue including grants fell short of the Budget target by LKR 382 billion or 11%. In 2023, actual total revenue and grants amounted to L...
වැඩිදුර කියවන්න