Quick links: United States | Major Indices | Indices Future | Real-time Commodities | Webinars | Coronavirus | Economic Calendar
Stock Market
Google executive to take over as a new CEO of Pinterest
Stock Market
Accounting firm gets 100 million fine for faulty regulations
Forex
The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price
Stock Market
Wall Street Lose Balance after recession strikes growth fear among consumers’
Stock Market
Inflation ringing the recession bell - Mohammed Shaheen
Economy
1 Jun 2022
Sri Lanka immediately hikes tax rates at 12% from 8% to boost Government Revenues
The Index Today
An increase in Value Added Tax (VAT) to 12% from 8% with immediate effect is among the key tax increases announced on Tuesday, which is expected to boost government revenues by 65 billion Sri Lankan rupees or $180.56 million.
Sri Lanka's declared bankrupt government on Tuesday announced that there will be a taxation overhaul to boost revenue amid the country's crippling economic crisis, hiking value added taxes and corporate income tax, and slashing the relief given to individual taxpayers.
Prime Minister Ranil Wickremesinghe, who took office this month amid the economic crisis is now planning to present an interim budget within weeks, he also mentioned that the measures were necessary as the current state of government finances was unsustainable.
