Sri Lanka has increased the special commodity levy (SCL) on sugar from 0.25 rupees to 50 rupees as of November 2, as per a government document signed by President Ranil Wickremesinghe in his capacity as Finance Minister. This move comes afte...

The government has announced a VAT rate increase from 15% to 18% effective from January 1, 2024, to meet revenue targets set by the International Monetary Fund (IMF). Despite a significant 51% increase in tax receipts during the first nine m...

Sri Lanka's services exports surged by 55.6% to $2.3 billion, driven by ICT/BPO, construction, financial services, transport, and logistics. The country's total goods and service exports for the first nine months of 2023 amounted to...

The Public Utilities Commission of Sri Lanka (PUCSL) has approved revised electricity charges, effective from October 20. These changes, requested by the Ceylon Electricity Board (CEB), aim to boost the state-run utility's revenue. The n...