Tax rates to be increased in Sri Lanka
Posted by Editor on April 30, 2022 - 9:11 am
Sri Lanka’s Finance Minister Ali Sabry said yesterday (April 29) his office had started initial consultations on the increase of fiscal revenue from the present 8.5 percent of the Gross Domestic Product (GDP) to 13-14 percent.
According to the Minister it is difficult to run a country with such a low tax revenue base as a percentage of the GDP.
“We have not made a final decision yet. But, we believe there should be a general tax increase,” he said.
Latest Headlines in Sri Lanka
- Sri Lanka receives USD 650 Million in FDIs in first quarter of 2025 June 4, 2025
- Supreme Court reinstates bond scam charges against Ravi Karunanayake June 4, 2025
- Nuwan Dharmaratne resigns as COO of Lanka Sugar Company’s Pelwatte unit June 4, 2025
- Sri Lanka sees 132,919 tourist arrivals in May 2025 June 4, 2025
- Thusitha Halloluwa further remanded until June 6, 2025 June 4, 2025
