Now showing items 79-98 of 163

    • Personal Income Tax (PIT): SL has the highest income tax rate at a lower income level in South Asia 

      Public Finance Infographics;
      Econ Team
      (Colombo: Verite Research, 2024)
      Sri Lanka imposes its highest tax rate at a relatively lower income threshold compared to other South Asian countries. Individuals earning over LKR 308,333 per month are subject to a steep 36% tax rate, making Sri Lanka ...
    • Personal Income Tax (PIT): SL has the highest level of income with zero tax in South Asia 

      Public Finance Infographics;
      Econ Team
      (Colombo: Verite Research, 2024)
      Sri Lanka has the highest tax-free income threshold in South Asia – without the Maldives. Citizens are exempt from paying income tax unless they earn over LKR 1.2 million annually (LKR 100,000 per month). In comparison, ...
    • Personal income tax (PIT): SL’s tax burden is less at lower incomes but more at high incomes compared to South Asia 

      Econ Team (Colombo: Verite Research, 2024)
      Sri Lanka's personal income tax burden varies significantly between lower and higher income levels. At lower incomes, particularly for those earning below LKR 250,000 per month, the tax burden—measured as the percentage ...
    • Petrol and Diesel Market Prices vs. Formula Price in November 

      Econ Team (Colombo: Verité Research, 2024-11)
      Following the monthly fuel price revision on 01 November 2024, the market price of 92 octane petrol and the market price of auto diesel remained unchanged. However, the cost-reflective fuel formula prices for 92 octane ...
    • Petrol and Diesel Market Prices vs. Formula Price in October 

      Econ Team (Colombo: Verite Research, 2024)
      Following the monthly fuel price revision for October, the market price of 92-octane petrol is LKR 10 above the fuel price formula, and the market price of Auto diesel is LKR 22 above the fuel price formula, as shown by ...
    • Petrol and Diesel vs. fuel price formula in July (2024) 

      Public Finance Infographics;
      Econ Team
      (Colombo: Verite Research, 2024-07-03)
      Following the monthly fuel price revision for July, the market price of 92-octane petrol is LKR 16.67 above the fuel price formula, and the market price of Auto diesel is LKR 21.68 above the fuel price formula, as shown ...
    • The Price of Parliament (2022) 

      Public Finance Infographics;
      Econ Team
      (Colombo: Verité Research, 2024-11)
      In 2022, the most recent year with detailed data, Sri Lanka spent LKR 3,248 million on operating its parliament, amounting to an average of LKR 32.2 million per sitting. This expenditure is divided across the subsections ...
    • Primary and Budget Balances move in opposite directions as interest payments increase! 

      Public Finance Infographics;
      Econ Team
      (Colombo: Verité Research, 2024-01)
      The Fiscal Management Report 2024 published by the Ministry of Finance, shows that the Primary Balance improved from LKR -317 Bn in 3rd quarter 2022 to a positive LKR 124 Bn in 3rd quarter 2023. The Budget Deficit, however, ...
    • The Problem with Procurement 

      Public Finance Infographics;
      Econ Team
      (Colombo: Verite Research, 2023-10-04)
      Sri Lanka’s 2023 IMF Programme includes a commitment to disclose public procurement contracts through an online fiscal transparency platform. The online transparency platform was to be operational by March 2023, but the ...
    • Proposed 13% primary expenditure rule for Sri Lanka departs from economic theory and practice 

      Public Finance Infographics;
      Econ Team
      (Colombo: Verité Research, 2024-07-24)
      The government of Sri Lanka gazetted the Public Financial Management (PFM) Bill to enhance transparency, accountability, and control of public funds. A key provision of the bill is the establishment of a limit on government ...
    • Provincial Council Receipts and Expenditure in 2020 

      Public Finance Infographics;
      Econ Team
      (2021-11-02)
      The finance commission makes an annual recommendation on the allocation of funds required to meet the needs of provincial councils to the government. The Western Province has the highest absolute value, and the North Central ...
    • Public Debt Increases in Dollar Value While Decreasing in Rupee Value 

      Public Finance Infographics;
      Econ Team
      (Colombo: Verite Research, 2023-12-19)
      According to recent data published by the Ministry of Finance, public debt in dollar terms fell from USD 97 Bn (end 2021) to USD 85 Bn (end 2022), however rose again to USD 91 Bn by September 2023. The debt stock in ...
    • Public Report on the 2022 Budget: Assessment of the Fiscal, Financial and Economic Assumptions used in the Budget Estimates - Infographics 

      de Silva, Dinuk; Mubarak, Faiq; Musammil, Miflal; Hanifa, Hafsa; Siyambalapitiya, Sumini (2021-12)
      The 2022 budget was presented to the parliament on November 12, 2021, outlining the government’s proposals to raise public funds through taxation and proposals for expenditure during the year. These proposals form the ...
    • Reallocation of Funds Can Help Finance an Election 

      Public Finance Infographics;
      Econ Team
      (2022-06)
      The infographic depicts the cost of an election in comparison to selected spending decisions undertaken by the government in 2022. In 2022 the government allocated LKR 19 billion for domestically funded defence projects ...
    • Relief Package: What it Entails and How Will it be Financed? 

      Public Finance Infographics;
      Econ Team
      (2022-02-01)
      In response to rising living cost with inflation rate of 12.1%1 in December 2021, the cabinet of ministers approved a relief package amounting to LKR 229 billion on the 3rd of January 2022. The following infographic depicts ...
    • Revenue foregone by government due to tax concessions 

      Public Finance Infographics;
      Econ Team
      (Colombo: Verité Research, 2024-04-01)
      For the fiscal year 2022/23 (April to March), tax concessions resulted in a total of LKR 978 billion in foregone revenue, the government reported on 31 March. The foregone revenue amounts to 56% of the total tax revenue ...
    • Revenue performance: January - August 2024 

      Public Finance Infographics;
      Econ Team
      (Colombo: Verité Research, 2024-10-29)
      During the first eight months of 2024, government revenue rose from LKR 1,819 billion to LKR 2,557 billion compared to the same period in the previous year. This increase arises from high revenue growth across all major ...
    • Sanitary napkins: Subjected to unreasonably high taxes 

      Public Finance Infographics;
      Econ Team
      (Colombo: Verité Research, 2024-03)
      The total tax burden on Sanitary napkins in 2024 is 47.1%, this is significantly higher than the tax burden of selected non-essentials items, gold jewellery, raw silk, golf clubs and golf balls and military artillery weapons.
    • Sectoral Allocations for the 2023 Budget 

      Public Finance Infographics;
      Econ Team
      (Colombo: Verite Research, 2022-11-15)
      Sectoral allocations from the 2023 Budget, ranging from defence to water and sanitation. This was presented in the Budget speech for 2023.
    • Sectoral Allocations: Budget 2024 

      Public Finance Infographics;
      Econ Team
      (Colombo: Verite Research, 2023-11-13)
      This series of infographics contains sectoral allocations from Budget 2024. Allocations to Finance, Defence and Health were among the highest.