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Sri Lanka state revenues increased by Rs. 93 bn last year

Sri Lanka state revenues increased by Rs. 93 bn last year

Colombo: Sri Lanka’s state revenues have increased by Rs 93 billion last year compared to 2017, the Central Bank said.

According to the Central Bank, , the total income of the state increased to Rs. 1932.459 billion in 2018 from Rs. 1839.562 billion in 2017.

The Central Bank says last year, there was an increase in all revenue streams – tax revenues, non-tax revenues and non-payable grants.

A large percentage of state revenues is from the income taxes.The Department of Customs, Inland Revenue and Excise Department directly contribute to the tax revenue to the state.

Accordingly, the tax revenues received by the state was Rs. 1920 billion. In 2017 tax income received by the state is Rs. 1831.5 billion, according to Central Bank data.