Government expenditure in December had swelled by Rs. 1 trillion despite the country declaring bankruptcy, a cash-strapped Treasury and multiple curbs on public sector spending.
Revenue from VAT increased by 50.2%, mainly reflecting the impact of the rise in price levels and upward revisions made to the VAT rate from June and September 2022
Source: www.ft.lk
Latest Posts in "Sri Lanka"
- Sri Lanka moves toward e-invoicing implementation
- Sri Lanka Launches E-Invoicing and Fiscal Registers to Modernise VAT Collection and Boost Compliance
- Lowering VAT Threshold Threatens Survival of Sri Lanka’s Micro and Small Businesses
- Sri Lanka to Start Fast-Track VAT Refunds for Low-Risk Exporters This Month
- Sri Lanka’s 2026 Budget: Major Indirect Tax Reforms, VAT Changes, and E-Invoicing Initiatives
