| dc.contributor.author | Econ Team | |
| dc.date.accessioned | 2026-03-18T09:55:47Z | |
| dc.date.available | 2026-03-18T09:55:47Z | |
| dc.date.issued | 31/03/2025 | |
| dc.identifier.uri | https://archive.veriteresearch.org/handle/456/8037 | |
| dc.description | This infographic was posted on the Public Finance Platform in English and can be accessed from the link below. | |
| dc.description.abstract | All sorts of tax concessions (reported as “tax expenditure”) costs the government almost a trillion rupees a year in potential revenue.
In the financial year 2023/24 the tax expenditure statement published by the government reported forgone reporting as LKR 966 billion in revenue. This tax expenditure figure amounts to around 3% of GDP and 21% of projected tax revenues in 2025. The fiscal implication of this is considerable, with the potential to reduce the budget deficit by nearly half—from LKR 2,200 billion to LKR 1,234 billion. | |
| dc.language.iso | en | |
| dc.publisher | Colombo: Verité Research | |
| dc.relation.ispartofseries | Public Finance Infographics | |
| dc.relation.uri | https://www.publicfinance.lk/en/topics/nearly-50-of-the-budget-deficit-due-to-revenue-loss-from-tax-expenditure-1743141975 | |
| dc.subject | Public finance - Tax concessions | |
| dc.subject | Public finance - Budget deficit | |
| dc.subject | Public finance - Tax expenditure | |
| dc.subject | Public finance - Tax expenditure - South Asia | |
| dc.title | Tax concessions account for half of the budget deficit | |
| dc.type | Infographics | |
