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Featured Insight
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.
Featured Insight
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.
Featured Insight
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.
Featured Insight
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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அரச வருமானம் தொடர்பான பகுப்பாய்வுகளும் விரிவான பார்வைகளும்.
Sri Lanka's Unique Revenue Problem
Tax to GDP and GDP per capita for most South Asian countries shows a positive relationship as can be show by the infographic below. For example Bhutan had a tax to GDP of 10% in and GDP per capita of 4% in the year 2000....
பி.எஃப். வயரில் இணைப்பிலிருந்து
Source:
The Morning
No tax relief in the foreseeable future
Ministry of Finance cannot grant any tax concessions for local manufacturers at this stage due to the need to meet revenue targets. However, tax concessions might be considered in the mid-term if revenue generation exceeds...
மேலும் வாசிக்க
Source:
The Morning
SL tourism revenue reaches $ 1.8 Bn
The revenue earned from tourism increased to $ 205.3 million in November 2023 which is over twice the revenue in November 2022, according to the latest data. Minister o...
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Source:
Sunday Times
Unions warn of Rs. 300b loss if tax amnesty is not...
Inland Revenue Department (IRD) officials have called on Finance Minister Basil Rajapaksa to reduce the period for the proposed tax amnesty for undisclosed income, warning that the government could lose a revenue of up to Rs 300 billion.
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நுண்ணறிவு வருமானம்
2020 ம் ஆண்டுக்கான இலங்கையின் அரசிறை நில...
2017 மற்றும் 20...
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கோவிட்-19 ஆனது
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’...
Fixing Sri Lanka's Revenue Problem is a...
Taxes are the key source of government revenue. Normally, the tax shar...
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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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மே மாதத்திற்குள் சர்வதேச நாணய நிதியத்தின் (IMF) 29...
சர்வதேச நாணய நிதிய (IMF) திட்டத்தின் கீழ் கண்காணிக்கக்கூடிய 100 உறுதிமொழிகளில் 29 ஐ இலங்கை பூர்த்தி செய்துள்ளதுடன், 2023 மே மாத இறுதிக்குள் அவற்றின் மூன்று உறுதிமொழிகளை நிறைவேற்ற தவறியுள்ளதாக வெரிட்டே ரிசர்ச்சின் 'IMF கண்காணிப்பான்...
மேலும் வாசிக்க
For Sri Lanka, A Governance-Linked Bond Might Just...
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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