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Tax revenue misses IMF target in 1st quarter!
According to the 2022 Annual Report from the Ministry of Finance, tax revenue for the first quarter of 2023 experienced a surge of 56%, amounting to LKR 578 billion. This was a increase from the LKR 370 billion collected during the same period in 2022. Despite this growth, the Q1 2023 tax revenue collection fell short of the target set in agreement with the International Monetary Fund (IMF), which was LKR 650 billion, by 11%. Moreover, the tax-to-GDP ratio for the first quarter of 2023 was reported to be 7.9%. This is lower than the annual target of 9.7% agreed upon with the IMF, indicating a gap of 1.8 percentage points that needs to be bridged in order to meet the target agreed upon with the IMF for the year.
විදසුන්
Tax revenue misses IMF target in 1st quarter!
According to the 2022 Annual Report from the Ministry of Finance, tax revenue for the first quarter of 2023 experienced a surge of 56%, amounting to LKR 578 billion. This was a increase from the LKR 370 billion collected during the same period in 2022. Despite this growth, the Q1 2023 tax revenue collection fell short of the target set in agreement with the International Monetary Fund (IMF), which was LKR 650 billion, by 11%. Moreover, the tax-to-GDP ratio for the first quarter of 2023 was reported to be 7.9%. This is lower than the annual target of 9.7% agreed upon with the IMF, indicating a gap of 1.8 percentage points that needs to be bridged in order to meet the target agreed upon with the IMF for the year.
විදසුන්
Tax revenue misses IMF target in 1st quarter!
According to the 2022 Annual Report from the Ministry of Finance, tax revenue for the first quarter of 2023 experienced a surge of 56%, amounting to LKR 578 billion. This was a increase from the LKR 370 billion collected during the same period in 2022. Despite this growth, the Q1 2023 tax revenue collection fell short of the target set in agreement with the International Monetary Fund (IMF), which was LKR 650 billion, by 11%. Moreover, the tax-to-GDP ratio for the first quarter of 2023 was reported to be 7.9%. This is lower than the annual target of 9.7% agreed upon with the IMF, indicating a gap of 1.8 percentage points that needs to be bridged in order to meet the target agreed upon with the IMF for the year.
විදසුන්
Tax revenue misses IMF target in 1st quarter!
According to the 2022 Annual Report from the Ministry of Finance, tax revenue for the first quarter of 2023 experienced a surge of 56%, amounting to LKR 578 billion. This was a increase from the LKR 370 billion collected during the same period in 2022. Despite this growth, the Q1 2023 tax revenue collection fell short of the target set in agreement with the International Monetary Fund (IMF), which was LKR 650 billion, by 11%. Moreover, the tax-to-GDP ratio for the first quarter of 2023 was reported to be 7.9%. This is lower than the annual target of 9.7% agreed upon with the IMF, indicating a gap of 1.8 percentage points that needs to be bridged in order to meet the target agreed upon with the IMF for the year.
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2022 වසරේ බදු සහන ලබා දීමෙන් ආණ්ඩුව අහිමි
2022/23 (අප්‍රේල් සිට මාර්තු) මූල්‍ය වර්ෂයේ ලබාදුන් බදු සහන හේතුවෙන් රුපියල් බිලියන 978ක බදු ආදායමක් අහිමිව තිබෙණ බව ආණ්ඩුව වාර්තා කළේ ය. මෙසේ අහිමි කරගෙන...
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මූලාශ්රය:
The Morning
Excise revenue reaches Rs. 105 b
The Excise Department has collected Rs. 105 billion in revenue by 30 June this year, marking a Rs. 17 billion increase compared to the same period last year, despite setbacks from natural disasters and issues at a major pro...
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මූලාශ්රය:
Economy Next
Sri Lanka’s tax hike will help curb inflation, cut...
Sri Lanka’s tight fiscal policy with new tax hikes from December 1 will help the central bank to reduce inflation and interest rates faster than it has expected, the central bank governor Nandalal Weerasinghe said.
වැඩිදුර කියවන්න
මූලාශ්රය:
Daily FT
LKR 27 BN losses in excise revenue due to Covid si...
The Government has lost Rs. 27 billion in excise revenue this year due to the current COVID situation, Commissioner General of Excise M.J. Gunasiri has informed the Committee meeting on Public Accounts (COPA). He said that although the proje...
වැඩිදුර කියවන්න
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Governments have consistently overestimated revenue and thes...
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The indexation method introduced in 2019...
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Sri Lanka ratified the World Health Organ...
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2022 අයවැය පිළිබඳ මහජන වාර්තාව: අයවැය ඇස්තමේන්තු ව...
මෙම වාර්තාව 2022 අයවැය සම්පාදනය කිරීමේදී යොදන ලද මූල්‍ය, මූල්‍ය සහ ආර්ථික උපකල්පන සහ ඇස්තමේන්තු පිළිබඳ තක්සේරුවක් සහ විශ්ලේෂණයක් සපයයි. මෙම වාර්තාව ප්‍රධාන කොටස් දෙකකින් සමන්විත වේ. . පළමු කොටස අයවැය සකස් කිරීමේදී භාවිතා කරන ලද දෝෂ සහිත උපකල්පන සහ ඇස්තමේන්තු පිළිබඳව කරුණු දක...
වැඩිදුර කියවන්න
What Caused the Rise in Tax Revenue from 2021 to 2...
In the Central Bank's Annual Report for 2022, the government's revenues witnessed a notable surge of 38%, soaring from Rs 1,484 billion to Rs 2,013 billion. A c...
වැඩිදුර කියවන්න
Let’s Shield the EPF with the Instincts of Winston...
This article was compiled by Dr. Nishan de Mel. Dr. Nishan de Mel is the Executive Director of Verité Research and an economist with extensive acade...
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