මාතෘකා
ගවේෂණය කරන්න
විදසුන්
VAT revenue collection: Maldives highest, Sri Lanka lowest
Sri Lanka has the lowest tax revenue collected through Value Added Tax (VAT) in South Asia while Maldives with a lower tax rate collects nearly 5 times more through its Goods and Services Tax (GST). In 2023, Sri Lanka’s VAT rate was 15%, which generated LKR 694 billion—equivalent to 2.5% of GDP—making it the lowest in South Asia. In contrast, countries with similar or lower VAT rates collected higher revenue. For example, Bangladesh, with a similar rate, collected revenue amounting to 3.6% of GDP, and Nepal, with a lower rate of 13%, generated 5.3% of its GDP from VAT in 2023. The Maldives stands out with a Goods and Services Tax (GST) that raises revenue amounting to 12% of GDP, despite having a lower average rate of about 12% (8% for general GST and 16% for tourism GST). Although it is termed “GST,” the system functions similarly to Sri Lanka’s VAT by allowing businesses to charge GST on sales (output tax) and claim credits for GST paid on purchases (input tax). Although the reported value of goods taxed under General GST and the Tourism GST rate is about the same, the Maldives secures twice as much revenue from its Tourism GST due to the higher 16% rate.
විදසුන්
VAT revenue collection: Maldives highest, Sri Lanka lowest
Sri Lanka has the lowest tax revenue collected through Value Added Tax (VAT) in South Asia while Maldives with a lower tax rate collects nearly 5 times more through its Goods and Services Tax (GST). In 2023, Sri Lanka’s VAT rate was 15%, which generated LKR 694 billion—equivalent to 2.5% of GDP—making it the lowest in South Asia. In contrast, countries with similar or lower VAT rates collected higher revenue. For example, Bangladesh, with a similar rate, collected revenue amounting to 3.6% of GDP, and Nepal, with a lower rate of 13%, generated 5.3% of its GDP from VAT in 2023. The Maldives stands out with a Goods and Services Tax (GST) that raises revenue amounting to 12% of GDP, despite having a lower average rate of about 12% (8% for general GST and 16% for tourism GST). Although it is termed “GST,” the system functions similarly to Sri Lanka’s VAT by allowing businesses to charge GST on sales (output tax) and claim credits for GST paid on purchases (input tax). Although the reported value of goods taxed under General GST and the Tourism GST rate is about the same, the Maldives secures twice as much revenue from its Tourism GST due to the higher 16% rate.
විදසුන්
VAT revenue collection: Maldives highest, Sri Lanka lowest
Sri Lanka has the lowest tax revenue collected through Value Added Tax (VAT) in South Asia while Maldives with a lower tax rate collects nearly 5 times more through its Goods and Services Tax (GST). In 2023, Sri Lanka’s VAT rate was 15%, which generated LKR 694 billion—equivalent to 2.5% of GDP—making it the lowest in South Asia. In contrast, countries with similar or lower VAT rates collected higher revenue. For example, Bangladesh, with a similar rate, collected revenue amounting to 3.6% of GDP, and Nepal, with a lower rate of 13%, generated 5.3% of its GDP from VAT in 2023. The Maldives stands out with a Goods and Services Tax (GST) that raises revenue amounting to 12% of GDP, despite having a lower average rate of about 12% (8% for general GST and 16% for tourism GST). Although it is termed “GST,” the system functions similarly to Sri Lanka’s VAT by allowing businesses to charge GST on sales (output tax) and claim credits for GST paid on purchases (input tax). Although the reported value of goods taxed under General GST and the Tourism GST rate is about the same, the Maldives secures twice as much revenue from its Tourism GST due to the higher 16% rate.
විදසුන්
VAT revenue collection: Maldives highest, Sri Lanka lowest
Sri Lanka has the lowest tax revenue collected through Value Added Tax (VAT) in South Asia while Maldives with a lower tax rate collects nearly 5 times more through its Goods and Services Tax (GST). In 2023, Sri Lanka’s VAT rate was 15%, which generated LKR 694 billion—equivalent to 2.5% of GDP—making it the lowest in South Asia. In contrast, countries with similar or lower VAT rates collected higher revenue. For example, Bangladesh, with a similar rate, collected revenue amounting to 3.6% of GDP, and Nepal, with a lower rate of 13%, generated 5.3% of its GDP from VAT in 2023. The Maldives stands out with a Goods and Services Tax (GST) that raises revenue amounting to 12% of GDP, despite having a lower average rate of about 12% (8% for general GST and 16% for tourism GST). Although it is termed “GST,” the system functions similarly to Sri Lanka’s VAT by allowing businesses to charge GST on sales (output tax) and claim credits for GST paid on purchases (input tax). Although the reported value of goods taxed under General GST and the Tourism GST rate is about the same, the Maldives secures twice as much revenue from its Tourism GST due to the higher 16% rate.
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රාජ්‍ය මූල්‍ය දත්ත හා විශ්ලේෂණයන් සඳහා
නිදහස් හා විවෘත ප්‍රවේශය
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මාතෘකා
2023 අයවැය
2023 අයවැය
2023 අයවැය පිළිබඳ සවිස්තරාත්මක විශ්ලේෂණය.
අපේක්ෂිත දළ දේශීය නිෂ්පාදිතය- අයවැය 2023
ශ්‍රී ලංකා අයවැය 2023 වර්ෂයට සාපේක්ෂව නාමික දළ දේශීය නිෂ්පාදිතයේ 27% ක වැඩිවීමක් අපේක්ෂා කරන අතර එය රුපියල් බිලියන 6,519 ක වැඩිවීමකි. සංශෝධිත 2022 ඇස්තමේන්තු වලින්.
පීඑෆ් වයර් පුවත්
මූලාශ්රය:
Daily News
Economy witnessed gradual revival in 2023 – CBSL
The Central Bank of Sri Lanka reported a gradual economic revival in 2023, following the country's most severe post-Independence downturn. Th...
වැඩිදුර කියවන්න
මූලාශ්රය:
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.
වැඩිදුර කියවන්න
මූලාශ්රය:
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...
වැඩිදුර කියවන්න
විදසුන් කියවන්න: 2023 අයවැය
Inadequacy of Sri Lanka's budget process
As taxpayers, you fund the national budget. But do you know whether...
Parliamentary Budget Office and Public F...
The recently enacted Public Financial Man...
අයවැය විනිවිදභාවය - රටවල් 125 ක් අතරින්...
ජාතික අයවැය චක්‍රවල විනිවිදභාවය තක්සේ...
2023 End Year Budget Promises Study: Tra...
The 2023 End Year Budget Promises Assessm...
මහජන මුදල්වලින් 89%ක්ම වෙන් කර තිබූ අයවැ...
2023 අයවැය කතාවට ඇතුළත් කර තිබූ වටිනාකම ව...
2023 වසරේ ශ්‍රී ලංකාවේ මූල්‍ය කාර්ය සාධන...
2023 වසරේ ශ්‍රී ලංකාවේ මූල්‍ය කාර්ය සාධනය වැඩිදියුණු කිරීම් සහ පවතින අභියෝගවල මිශ්‍ර...
National Budget Process in 60 Seconds!
The video below describes the National Budget process from planning...
Will the budget's veil of secrecy be lif...
The lack of transparency on the implementation progress of proposals...
Sri Lanka's best kept secret
The lack of fiscal transparency is a key factor that contributed to...
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වීශේෂාංග
Sri Lanka failed 2 IMF commitments & met 25 by en...
An IMF Programme usually has four main types of commitments: a) Prior Actions - These are steps a country agrees to take before the IMF approves financing or completes...
වැඩිදුර කියවන්න
වියදම් යෝජනා: අයවැය 2024
2024 අයවැය තුළවූ වියදම් යෝජනා.
වැඩිදුර කියවන්න
Restructuring Domestic Debt Must be Credible, Fast...
This article was compiled by Professor Udara Peiris. Udara Peiris joined Oberlin in the fall of 2022. He was previously a tenured Associate Professor of Fi...
වැඩිදුර කියවන්න
