Category: Budget
Full Budget Speech 2024
DOWNLOAD DOWNLOAD President Ranil Wickremesinghe, serving as the Minister of Finance, presented the 2024 budget to Parliament under the theme “Prelude to a Bright Future.” Here is a summary of the budget speech, including key tax proposals. Unveiling the 2024 budget, President Ranil Wickremesinghe asserted that Sri Lanka’s economy, which had faced setbacks, successfully regained […]
Tax Administration and Tax Policy Revisions
Excise Department Introduction of an online license-issuing system. And increase in the Excise License fees. Introduction of Sri Lanka Standards (SLS) for toddy and all types of locally manufactured liquor. Encourage investments in new types of liquor products targeting foreign markets. Make selected locally produced liquor to be available in duty-free shops. Strengthen the tax […]
Sri Lanka Allocates Rs. 3000 Bn for Sovereign Bond Settlement in 2024 Budget
Sri Lanka has earmarked a substantial Rs. 3000 billion for the execution of foreign debt restructuring and the settlement of international sovereign bonds within the foreign debt restructuring program. President Ranil Wickremesinghe, presenting the 2024 Budget in Parliament, emphasized the reduction of Sri Lanka’s net debt to its present value through the restructuring of International […]
Sri Lanka Budget Speech 2024 – Highlights
President and Finance Minister Ranil Wickremesinghe is delivering the Second Reading of the Appropriation Bill for the financial year 2024 in Parliament. Sri Lanka Budget 2024: LIVE VIDEO To enhance government employee pay, the state’s revenue must be increased, emphasizes President Inefficiencies in the public sector must be eliminated. President Ranil Wickremesinghe highlights need to […]
Focus on Including Private Sector Proposals for Building the Economy in the Budget
President Ranil Wickremesinghe has announced his intention to prioritize the inclusion of proposals from the private sector in this year’s budget and to separately examine related areas. He made these statements while attending a 2024 pre-budget -discussion held at the Presidential Secretariat yesterday (01) with the leaders of private sector institutions. During the meeting, the […]
SL economy to grow by 1.7-pct:Revenue mobilization fundamental for sustainable fiscal path
Sri Lanka’s economy is expected to grow by 1.7% in 2024 after contracting by 3.8% in 2023, says the World Bank in its twice-a-year update, while signaling that the outlook is clouded with uncertainty and that growth prospects depend on progress with debt restructuring and the implementation of critical structural reforms. Released today, the Sri Lanka […]
You will find many surprises in the next budget: President
Sri Lanka’s President Ranil Wickremesinghe, who is also the Finance Minister, told Parliament yesterday that there will be many surprises in the next budget. He was responding to a query made by the Chairman of the Committee on Public Finance Harsha de Silva on DDO. “Don’t go to the company that is making unconscionable profits […]
IMF staff mission for Sri Lanka defends new tax schedule for personal income tax
The tax package, including the new tax rate schedule for personal income tax, is in line with international comparison, defending the government’s new tax structure, the IMF staff mission for Sri Lanka said. In response to recent media reports about tax hikes in the country, the staff mission said in a statement that those who […]
CCC says budget is in right direction but stresses implementation is key to success
The Ceylon Chamber of Commerce observes that the National Budget for 2023 contains many laudable reform proposals which, if implemented in a timely manner, will complement the on-going fiscal reforms outlined prior to the Budget. Full Statement It is refreshing to see that the direction of the budget is towards reforms as compared to unsustainable […]
Budget 2023: Download Budget Speech (Text)
Budget Speech 2023: DOWNLOAD