Budget 2022 – Percentage and GST categories to be decided by FM (Video)
Posted on November 13th, 2021
Courtesy Hiru News
The Governor of the Central Bank Ajith Nivard Cabraal stated that he hopes to restructure loans in a manner that is beneficial to the country. He was addressing a discussion on the budget organized by the Central Bank of Sri Lanka held through video technology.
Some of the proposals made by the Minister of Finance Basil Rajapaksa yesterday, have been implemented since yesterday.
The first was the cigarette and excise tax levy proposal
Accordingly the price of a cigarette was increased by 5 rupees.
It was also proposed to increase excise duty with immediate effect and the expected revenue from this would be Rs. 25 billion.
The Minister of Finance has included a number of tax proposals in the 2022 budget to increase government revenue.
One of the main proposals is the GST or tax on goods and services.
The proposal introduced in the last budget is due to be implemented from next January.
However, the budget proposal does not clearly state the percentage of this tax or the relevant goods and services subject to this tax.
Meanwhile, the Minister of Finance stated that benefits cannot be given to the public service this year.