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: Limiting VAT to Manufacturers and Service Providers, Shifting SSCL to Traders
- President Says VAT Reduction Planned Within Two to Three Years
- Government to Remove VAT on School Books, President Says
- Sri Lanka Defers Its Revised VAT Invoice Format to October 1, 2026
- Sri Lanka Drops Controversial VAT Threshold Cut Amid Business Backlash
