November 13, 2021 - Lanka Focus

Sri Lanka budget 2022: key tax changes

November 13, 2021November 13, 2021 admin

Sri Lanka budget 2022: key tax changes ECONOMYNEXT (13-11-2021) Sri Lanka’s budget for 2022 has proposed new taxes after a value added tax cut in 2019 for ‘fiscal stimulus’ devastated state revenues, triggering money printing which has resulted in a balance of payments crisis. The budget proposed to raise revenues from a revised 1,556 billion rupees in 2021 (9.4 percent of GDP) to 2,284 billion rupees (12.3 percent of GDP) in 2022. Authorities hope to bring the deficit down from 1,826 billion rupees (11.1 percent of GDP) to 1,628 billion…

Notes to the People: Should Sri Lanka Seek IMF Support?

November 13, 2021August 8, 2022 admin

Notes to the People: Should Sri Lanka Seek IMF Support? By Sumanasiri Liyanage (Ceylon today 13-11-2021) The triple crises in Sri Lanka -the economic, the epidemiological, and the political- appear to be aggravating day by day. Although many countries suffered from a COVID-19 outbreak are slowly but gradually coming out of the economic crisis created by the pandemic, there are no signs of such a development in Sri Lanka. The prices of all essential goods have rocketed. Farmers are still indecisive as to whether they cultivate or not for the…