🔴Sri Lanka’s government spending on education as a percentage of GDP has been among the lowest in South Asia for 15 years. In 2022, it was the lowest. Investing in education is essential for building human capital, a key driver of economic growth and societal progress. What

Third lowest in the world in spending on education! Sri Lanka was third from the bottom, in government spending on education as a share of #GDP in 2022. Spending 1.5% of GDP, #SriLanka ranked only above Haiti and Laos. Read more on: qrco.de/publicfinancep…

🔴VAT boosts government revenue!🔴 Government revenue increased by 40.5% in the first 8 months of 2024, largely driven by an 87% rise in Value Added Taxes (compared to the same period in the previous year). Visit qrco.de/governmentreve… to read more.

The government has announced an increase in the Withholding Tax (WHT) rate from 5% to 10%. With low income tax compliance in Sri Lanka, WHT is a vital mechanism to boost tax collection and improve compliance. Read: bit.ly/41DJlsw