Search
Now showing items 1-10 of 16
Fiscal Targets: Budget 2024
(Colombo: Verite Research, 2023-11-13)
Projections in Budget 2024 expect revenue to be 13.1% of GDP in 2024.
VAT to reach 20 year high from January
(Colombo: Verite Research, 2023-11-01)
Initially introduced in 2002, the VAT comprised two tiers: a 10% rate applicable to certain goods and services, and a 20% rate for others. However, in 2004, these rates were unified to a 15% rate, which was officially ...
Summary: Budget 2024
(Colombo: Verite Research, 2023-11-13)
Budget 2024 expects budget deficit for the year 2024 to increase by 19%.
What Caused the Rise in Tax Revenue from 2021 to 2022?
(Colombo: Verite Research, 2023-06-30)
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 ...
Why did Sri Lanka fall short of revised 2022 tax revenue target?
(Colombo: Verite Research, 2023-07-20)
Sri Lanka missed its tax revenue target in 2022, falling short by Rs 101 bn. Prioritizing fiscal consolidation has been given greater importance as part of the current IMF program. A series of budget deficits, excessive ...
Earnings from Tourism: Are we getting it right?
(2022-03)
Sri Lanka is expecting the earnings from tourism to play a significant role in driving the recovery of Sri Lanka’s foreign currency. However, there are important concerns accuracy of the estimated earnings from tourism. ...
Total and primary deficits run in opposite directions
(Colombo: Verite Research, 2023-09-22)
The governments primary deficit improved in the first half of 2023 compared to the corresponding period in 2022, while the budget deficit worsened increasing from LKR -903 Bn to LKR -1,243 Bn which implies a significant ...
Sri Lanka's Unique Revenue Problem
(Colombo: Verite Research, 2023-04-28)
Tax to GDP and GDP per capita for most South Asian countries shows a positive relationship. For example, Bhutan had a tax to GDP of 10% in and GDP per capita of 4% in the year 2000. By 2020, tax to GDP had risen to just ...
Summary of the Budget 2023
(Colombo: Verite Research, 2022-11-15)
Sri Lanka Budget 2023 anticipates higher revenue, expenditure and a 6.6% reduction in the budget deficit.
Tax revenue misses IMF target in 1st quarter!
(Colombo: Verite Research, 2023-08-04)
According to the 2022 Annual Report from the Ministry of Finance, tax revenue for the first quarter of 2023 experienced a surge of 56%, amounting to LKR 578 billion. This was a increase from the LKR 370 billion collected ...