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What Caused the Rise in Tax Revenue from 2021 to 2022?
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 closer examination of the revenue breakdown reveals that a substantial portion of this growth stems from increments in Value Added Tax (VAT), Personal Income Tax and Corporate Tax, which experienced respective increments of Rs 155 billion and Rs 212 billion. Improving fiscal consolidation will be of paramount importance as Sri Lanka advances in its IMF program.
විදසුන්
What Caused the Rise in Tax Revenue from 2021 to 2022?
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 closer examination of the revenue breakdown reveals that a substantial portion of this growth stems from increments in Value Added Tax (VAT), Personal Income Tax and Corporate Tax, which experienced respective increments of Rs 155 billion and Rs 212 billion. Improving fiscal consolidation will be of paramount importance as Sri Lanka advances in its IMF program.
විදසුන්
What Caused the Rise in Tax Revenue from 2021 to 2022?
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 closer examination of the revenue breakdown reveals that a substantial portion of this growth stems from increments in Value Added Tax (VAT), Personal Income Tax and Corporate Tax, which experienced respective increments of Rs 155 billion and Rs 212 billion. Improving fiscal consolidation will be of paramount importance as Sri Lanka advances in its IMF program.
විදසුන්
What Caused the Rise in Tax Revenue from 2021 to 2022?
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 closer examination of the revenue breakdown reveals that a substantial portion of this growth stems from increments in Value Added Tax (VAT), Personal Income Tax and Corporate Tax, which experienced respective increments of Rs 155 billion and Rs 212 billion. Improving fiscal consolidation will be of paramount importance as Sri Lanka advances in its IMF program.
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Sri Lanka moves closer to finalising debt restructuring with Japan
Sri Lanka’s Cabinet approved a debt restructuring agreement with JICA, following bipartisan negotiations and legal clearance, aiming to boost investor confidence and secure further international financial support....
2025-02-06
Daily FT
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Japan to provide US $ 3mn grant through ADB to ensure SL’s food security
Japan has agreed to provide a US $ 3 million grant through the Asian Development Bank (ADB) to implement the Food Security and Livelihood Restoration Emergency Assistance project in Sri Lanka.
2022-08-11
Daily Mirror
වැඩිදුර කියවන්න
Electricity charges to go up by 75% from 8th August: PUCSL
The Public Utilities Commission of Sri Lanka (PUCSL) today granted permission to increase the electricity tariff by 75 % from tomorrow, PUCSL Chairman Janaka Rathnayake said.
2022-08-10
Daily Mirror
වැඩිදුර කියවන්න
Domestic debt restructure could stoke fresh banking crisis, expert warns
Sri Lanka could stoke another crisis if the authorities chose to restructure the rupee-denominated domestic debt, as it could have severe implications on the country’s banking sector, thereby endangering the entire financial system.
2022-08-09
Daily Mirror
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Energy Minister reveals the main reasons for CPC losses
Power and Energy Minister Kanchana Wijesekara in a Twitter message on August 5 said that there are multiple reasons for the CPC to operate under losses, with selling at subsidized rates, rupee depreciation, dues from government-owned institu...
2022-08-06
Economy Next
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