Illegal cigarettes causing Rs.52 Billion revenue loss to Government
The expansion in the Illegal cigarettes market driven by recent tax hikes is causing a record Rs. 52 billion revenue loss to the Government, According to the ongoing research conducted…
Only 31,000 pay income tax out Out of the 500,000
Although there are 500,000 personal income tax files in this country, only 31,000 of them are paying tax, Mahindananda Aluthgamage, Chair of the Sectoral Oversight Committee on National Economic and…
Sri Lanka lost a large chunk of its tax base due to changes made in tax system in 2020
Sri Lanka has lost a large chunk of its tax base due to significant changes in its tax system made in 2020 including the increase in VAT registration threshold on…
Liquor demand down by 30% in Crisis-hit Sri Lanka
Sri Lanka Excise Department revealed that t the demand for the liquor has decreased by about 30% due to the recent increase in the price of liquor and the decrease…