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VAT to drive revenue growth in 2024
Sri Lankan budgets have consistently overestimated the capacity to raise revenue. Therefore, it is prudent to examine from where the 45% increase in revenue is expected. The chart above shows that more than half the increase (56%) is expected from increasing the VAT rate and reducing exemptions on it. In short, the country expects to make more organisations pay a higher rate of VAT for a larger set of goods and services.
Featured Insight
VAT to drive revenue growth in 2024
Sri Lankan budgets have consistently overestimated the capacity to raise revenue. Therefore, it is prudent to examine from where the 45% increase in revenue is expected. The chart above shows that more than half the increase (56%) is expected from increasing the VAT rate and reducing exemptions on it. In short, the country expects to make more organisations pay a higher rate of VAT for a larger set of goods and services.
Featured Insight
VAT to drive revenue growth in 2024
Sri Lankan budgets have consistently overestimated the capacity to raise revenue. Therefore, it is prudent to examine from where the 45% increase in revenue is expected. The chart above shows that more than half the increase (56%) is expected from increasing the VAT rate and reducing exemptions on it. In short, the country expects to make more organisations pay a higher rate of VAT for a larger set of goods and services.
Featured Insight
VAT to drive revenue growth in 2024
Sri Lankan budgets have consistently overestimated the capacity to raise revenue. Therefore, it is prudent to examine from where the 45% increase in revenue is expected. The chart above shows that more than half the increase (56%) is expected from increasing the VAT rate and reducing exemptions on it. In short, the country expects to make more organisations pay a higher rate of VAT for a larger set of goods and services.
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Budget 2023
Budget 2023
Detailed analysis of the 2023 Budget
Summary of the Budget 2023
Sri Lanka Budget 2023 anticipates higher revenue, expenditure and a 6.6% reduction in the budget deficit.
From The PF Wire
Source:
Daily FT
Verité Research says progress unknown of 2023 Budg...
Verité Research on Wednesday revealed that Budget 2023 proposals to the value of Rs. 43.8 billion or 89% of the funds allocated, the Government was not able to provide information on progress.
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Source:
Sunday Times
New tax hike hurts high income earners
The Government’s desperate move of increasing income tax to a very high level under the new tax reforms fulfilling one of the commitments for the US$2.9 billion IMF extended fund facility has hit hard the high income earners and professionals below the belt.
Read More
Source:
Sunday Times
Treasury orders ministries to further reduce budge...
The Finance Ministry has issued a fresh circular, directing ministries to further slash their budgets by six percent... https://www.sundaytimes.lk/230122/news/tre...
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Insight on Budget 2023
Inadequacy of Sri Lanka's budget process
As taxpayers, you fund the national budge...
Parliamentary Budget Office and Public F...
The recently enacted Public Financial Man...
Budget Transparency - Sri Lanka is ranke...
The 2023 edition of the Open Budget Surve...
2023 End Year Budget Promises Study: Tra...
The 2023 End Year Budget Promises Assessm...
Progress unknown of budget proposals whi...
The 25 highest-value expenditure proposal...
Sri Lanka's fiscal performance in 2023 s...
Sri Lanka's fiscal performance in 2023 shows a mixed landscape o...
National Budget Process in 60 Seconds!
The video below describes the National Bu...
Will the budget's veil of secrecy be lif...
The lack of transparency on the implement...
Sri Lanka's best kept secret
The lack of fiscal transparency is a key...
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Featured
Calculating the Loss to the EPF from Proposed DDR
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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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...
Read More
Sanitary Napkins: Subjected to Unreasonably High T...
The total tax burden on Sanitary napkins is 47.1%, this is significantly higher than the tax burden of selected non-essentials items, gold jewelry, raw silk, golf clubs and gol...
Read More
