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Featured Insight
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.
Featured Insight
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.
Featured Insight
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.
Featured Insight
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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வரவு-செலவுத்திட்ட பற்றாக்குறைக்கு நிதியளித்தல் தொடர்பான பகுப்பாய்வுகளும் விரிவான பார்வைகளும்..
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
Indo-Sri Lanka bilateral projects undergo progress...
In a recent diplomatic development, India and Sri Lanka engaged in high-level discussions to review their bilateral economic connectivity, demonstrating a shared commitment to enhancing cooperation. Led by Senior Advisor to the President on...
மேலும் வாசிக்க
Source:
Economy Next
Sri Lanka and IMF reach deal for US$2.9bn program
The International Monetary Fund said it had reached a deal with Sri Lanka for a 4-year 2.9 billion US dollar extended fund facility subject to debt restructuring and prior actions. Under the program the budget will have to generate a primary...
மேலும் வாசிக்க
Source:
Economy Next
Sri Lanka eyes diaspora incentive package to boost...
Sri Lanka’s state run Board of Investment (BOI) is to formulate an incentive package for Sri Lankans with foreign citizenship when they invest in the island nation, a BOI source said.
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இலங்கை மற்றும் பங்களாதேஷுக்கு இடையில் பே...
சமீபத்தில், பங்...
Sri Lanka’s Bilateral Swap Agreements
A foreign currency swap is an agreement t...
2020 Records the Highest Budget Deficit...
The budget balance for 2020 is -LKR 2,090 billion (-14.0% of GDP) while the budget balanc...
2020ல் இலங்கை யாரிடமிருந்து கடன் வாங்கிய...
2020ல் இலங்கை...
සහන විදේශ ණය - ඇත්තටම අපිට සහනයක් ද?
ශී්ර ලංකාවේ ව්යාපෘති බොහෝමයක්, ප්රධාන වශයෙන...
Government Budget Balances, 2000 to 2021
The bar chart illustrates the primary balance and overall balance as...
Financing Infrastructure: The (non) conc...
Recently Verite Research held a seminar on the potential (non) concess...
Foreign Financial Assistance in the Time...
USD 873.5 Million worth foreign financial assistance has been approved so far for Sri Lanka to fi...
Emergency Credit assistance from IMF: Is...
Background The COVID-19 pandemic has resulted in severe macroeconomi...
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விவரணம்
Earnings from Tourism: Are we getting it right?
Sri Lanka is expecting the earnings from tourism to play a significant role in driving the recovery of Sri Lanka’s foreign currency. However, there are important concerns accuracy of the estimated earnings from tourism....
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இலங்கையின் வெளிநாட்டு ஒதுக்குகள் குறைந்ததற்கு கோவி...
இலங்கையின் பயன்படுத்தக்கூடிய வெளிநாட்டு ஒதுக்குகள் 2019ல் ஐ.அ.டொ 7,642 மில்லியனில் ...
மேலும் வாசிக்க
நிதி இலக்குகள்: 2024 பட்ஜெட்
வரவு செலவுத் திட்டத்திலுள்ள கணிப்புகள் 2024 ஆம் ஆண்டில் மொத்த உள்நாட்டு உற்பத்தியில் 13.1% வருவாயாக இருக்கும் என்று எதிர்பார்க்கின்றன
மேலும் வாசிக்க