ECONOMYNEXT – Sri Lanka will make registration for income tax compulsory for everyone above 18 ears, President Ranil Wickremesinghe is presenting a revised a budget. 
Sri Lanka is trying to raise taxes and reduce the deficit.
Sri Lanka will also cut the retirement age of state workers back to 60 years from 65.
Tuesday August 30, 2022 1:37 pm
ECONOMYNEXT – Sri Lanka will increase value-added tax (VAT) to 15 percent from the current 12 percent starting September 01, President Ranil Wickremesinghe said.
Presenting an interim budget for the remainder of the year, Wickremesinghe told parliament on Tuesday August 30 that it was unfortunate that the fiscal path Sri Lanka was set on from the years to 2019 was changed.
His predecessor, President Gotabaya Rajapaksa, made sweeping changes to Sri Lanka’s tax regime, which experts say contributed significantly to the country’s prevailing economic crisis, the worst since its Independence from the British. (Colombo/Aug30/2022)
Sri Lanka is trying to raise taxes and reduce the deficit.
Sri Lanka will also cut the retirement age of state workers back to 60 years from 65.
Sri Lanka to raise VAT to 15 percent from Sep 1: president
Tuesday August 30, 2022 1:37 pm
ECONOMYNEXT – Sri Lanka will increase value-added tax (VAT) to 15 percent from the current 12 percent starting September 01, President Ranil Wickremesinghe said.
Presenting an interim budget for the remainder of the year, Wickremesinghe told parliament on Tuesday August 30 that it was unfortunate that the fiscal path Sri Lanka was set on from the years to 2019 was changed.
His predecessor, President Gotabaya Rajapaksa, made sweeping changes to Sri Lanka’s tax regime, which experts say contributed significantly to the country’s prevailing economic crisis, the worst since its Independence from the British. (Colombo/Aug30/2022)
