On November 14, Sri Lankan President Ranil Wickremesinghe, who is also the finance minister, presented the 2023 budget, along the lines dictated by the International Monetary Fund’s (IMF) savage austerity program. The government will receive a bailout loan from the IMF only if its demands are implemented.
* Value added tax (VAT) will be increased again next April. In September, the government raised this tax from 12 to 15 percent on all goods and services.
Source: wsws.org
Latest Posts in "Sri Lanka"
- Sri Lanka Advances Tax Digitization with Electronic Invoicing to Boost Transparency and Economic Growth
- Sri Lanka Launches National E-Invoicing System to Modernize Tax Infrastructure
- ICCSL Examines Business Readiness and Challenges of New VAT Invoice Implementation in Sri Lanka
- New Exemption for VAT-Liable Financial Services in 2025 Social Security Contribution Levy Amendment
- Sri Lanka Unveils Three-Phase Electronic Invoicing Reform to Modernise VAT and Boost Digital Economy
