Sri Lanka has seen a substantial increase in government revenue, with a 41% rise year-on-year (y-o-y) in the first six months of 2024, totaling Rs. 1,860 billion. This achievement marks the collection of 52% of the estimated revenue for the year, according to Finance State Minister Ranjith Siyambalapitiya. Speaking in Parliament on August 7, Siyambalapitiya
A ministerial sub-committee’s report on the ‘Effective RAMIS System Utilization’ has recommended using the national identity card (NIC) to identify individuals for tax collection purposes. The report, which aims to enhance the Revenue Administration Management Information System (RAMIS), was presented to President Ranil Wickremesinghe by the committee chaired by Minister of Power and Energy Kanchana
The Cabinet of Ministers has approved a set of amendments aimed at expediting the tax appeal process to address delays that have impeded the collection of Rs. 73 billion in taxes. In response to the need for a more efficient system, the Cabinet has directed the Legal Draftsman to prepare a draft that will streamline