Browsing Infographics by Title
Now showing items 117-128 of 128
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Tax on Sanitary Napkins
(Verité Research, 2022-07-20)On the 31st of May 2022 the general customs duty on sanitary napkins were removed and VAT rate was increased from 8% to 12%. The revision resulted in the total tax rate on sanitary napkins falling to 42.8% from 53.6%. ... -
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 ... -
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 ... -
Total SOE Losses in the first four months of 2022 Outweigh Annual Losses in 2021
(Verité Research, 2022-08-09)During the first four months of 2022 the cumulative loss of State-Owned Enterprises (SOEs) amounted to LKR 860 BN. This figure outweighs the annual loss of SOEs in 2021. The top 3 contributors to the increase of the loss ... -
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 ... -
Violation of Fiscal Rules: Budget 2024
(Colombo: Verite Research, 2023-11-13)The proposed 2024 budget violates the deficit rule set in the Fiscal Management (Responsibility) Law of 5% of GDP. -
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 ... -
Where's the promised land?
(Colombo: Verite Research, 2023-11-01)Land access has been identified as a crucial barrier which inhibits foreign direct investment (FDI) in Sri Lanka. Investment zones, primarily Export Processing Zones (EPZs), are significantly influential in attracting FDI ... -
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 ... -
Will the budget's veil of secrecy be lifted in 2024?
(Colombo: Verite Research, 2023-11-01)The lack of transparency on the implementation progress of proposals in budget speeches has increased sharply in 2022 and 2023, according to a systematic evaluation conducted by Verité Research. The government – on ... -
Will the Increase in Cigarette Taxes Meet Budgeted Revenue?
(Colombo: Verite Research, 2023-01-05)On January 1st, 2023, the government decided to raise the excise taxes on cigarettes by 20%. The increase affected various sizes of cigarettes differently, with the smallest size (no larger than 60mm) seeing a tax increase ... -
Will the Increase in Cigarette Taxes Meet Budgeted Revenue?
(Colombo: Verite Research, 2023-01-05)This infographic outlines the fact that, though there was an increase in excise taxes on tobacco at the start of January in 2023, this will still not help Sri Lanka reach its revenue target for the year.