Sri Lanka to hike taxes back to 2019 levels: Minister

ECONOMYNEXT – Sri Lanka will hike taxes back to 2019 under changes proposed by Prime Minister Ranil Wickremesinghe have been approved, cabinet spokesman Bandula Gunawardena said.

A supplementary estimate of 695 billion rupees will be presented to parliament.

Cabinet has approved changes to the following tax laws to raise revenue.

2017 Inland Revenue Act

2002 VAT ACT

2011 Telecommunication Aact

1998 Betting and Gaming levy Act

The Financial Management Responsibiliyt Act will also be amended.