Tag: IMF wants Sri Lanka to raise income tax

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IMF wants Sri Lanka to raise income tax, VAT rates, minimize exemptions & adopt cost-recovery energy pricing

IMF Executive Board encourages Sri Lankan authorities to reform state-owned enterprises and adopt cost-recovery energy pricing while raising income tax and VAT rates and minimizing exemptions, complemented with revenue administration reform. Concluding the 2021 Article IV Consultation with Sri Lanka, the Executive Directors agreed that a tighter monetary policy stance is needed to contain rising […]