Sri Lanka Government Expect to raise over 22% Tax Revenue from VAT from 2017 to 2019 – Result ‘True and Correct’

As of 9th April 2017, FactCheck Sri Lanka verified the Budget Estimates Volumes published by the Ministry of Finance which highlights that the total revenue collection estimated as Taxes for the period of 2016-2019 is Rs. 7,631 billion and Value Added Tax (VAT) revenue collection estimates among it accounts to over Rs. 1,625 billion. Furthermore in 2017, 2018 and 2019, Sri Lankan Government expects to increase VAT total collection to Rs. 380 billion, Rs. 440 billion and to Rs. 515 billion respectively.

Thus the the documents reveal that Government estimates to earn over 22% of Tax Revenue from VAT collection to achieve the revenue estimates.VAT1

Categories: FactChecked, True