Sri Lanka issues gazette hiking value added tax from June 01

Sri Lanka has raised value added tax to 12 percent from 8 percent with effect from June 01 through an extraordinary gazette published at midnight on May 31 as attempts are made to contain a runaway budget deficit engineered in 2019 by Keynesian economists for fiscal stimulus.

EconomyNext

2022-06-01

Related News and Insights

SriLankan loses Rs. 12.9 b in Q1

SriLankan Airlines recorded a Rs. 12.9 billion net loss in Q1 FY25, driven by cash flow challenges, legacy issues, and financial costs from past debt. ...

Find Out More

SL pays $ 503 m for 1H debt servicing

By June 2024, Sri Lanka's external debt had reached $37.5 billion, with $8.19 billion in unpaid debt service accumulating since the April 2022 debt standstill on bilateral and commercial loans.

Find Out More

Workers’ remittances decline in September

In September 2024, Sri Lanka’s remittances reached $556 million, tourism earnings were $181 million, and gross official reserves rose to $6 billion, covering 3.9 months of imports.

Find Out More

View All