AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.00 Decreased By ▼ -0.53 (-0.41%)
BOP 6.76 Increased By ▲ 0.08 (1.2%)
CNERGY 4.50 Decreased By ▼ -0.13 (-2.81%)
DCL 8.70 Decreased By ▼ -0.24 (-2.68%)
DFML 41.00 Decreased By ▼ -0.69 (-1.66%)
DGKC 81.30 Decreased By ▼ -2.47 (-2.95%)
FCCL 32.68 Decreased By ▼ -0.09 (-0.27%)
FFBL 74.25 Decreased By ▼ -1.22 (-1.62%)
FFL 11.75 Increased By ▲ 0.28 (2.44%)
HUBC 110.03 Decreased By ▼ -0.52 (-0.47%)
HUMNL 13.80 Decreased By ▼ -0.76 (-5.22%)
KEL 5.29 Decreased By ▼ -0.10 (-1.86%)
KOSM 7.63 Decreased By ▼ -0.77 (-9.17%)
MLCF 38.35 Decreased By ▼ -1.44 (-3.62%)
NBP 63.70 Increased By ▲ 3.41 (5.66%)
OGDC 194.88 Decreased By ▼ -4.78 (-2.39%)
PAEL 25.75 Decreased By ▼ -0.90 (-3.38%)
PIBTL 7.37 Decreased By ▼ -0.29 (-3.79%)
PPL 155.74 Decreased By ▼ -2.18 (-1.38%)
PRL 25.70 Decreased By ▼ -1.03 (-3.85%)
PTC 17.56 Decreased By ▼ -0.90 (-4.88%)
SEARL 78.71 Decreased By ▼ -3.73 (-4.52%)
TELE 7.88 Decreased By ▼ -0.43 (-5.17%)
TOMCL 33.61 Decreased By ▼ -0.90 (-2.61%)
TPLP 8.41 Decreased By ▼ -0.65 (-7.17%)
TREET 16.26 Decreased By ▼ -1.21 (-6.93%)
TRG 58.60 Decreased By ▼ -2.72 (-4.44%)
UNITY 27.51 Increased By ▲ 0.08 (0.29%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,450 Increased By 43.4 (0.42%)
BR30 31,209 Decreased By -504.2 (-1.59%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

Sri Lanka's government revenues jumped by more than a fifth in the first seven months of this year, data showed on Thursday, as the new government sought to improve tax collection and cracked down on corruption. The data were released ahead of a parliamentary election on Monday in which the United National Party-led minority government formed in January is seeking a strengthened mandate.
Sri Lanka does not usually release interim figures, but the data showed that total tax revenues had risen from January through July by 20.5 percent, year on year, to 646.2 billion rupees ($4.8 billion). Revenues from excise tax jumped over 123 percent to 251.6 billion rupees, 73 percent of the full-year target. "The reason for this increase is due to the crackdown on smuggled tobacco products and distilleries, along with distribution networks which were earlier flirting with tax authorities and cashing in on their political patronage," said Danushka Samarasinghe, research head at Softlogic Stockbrokers.
Since taking office in January, the administration of President Maithripala Sirisena has taken steps to reduce corruption it says prevailed under his predecessor Mahinda Rajapaksa. Rajapaksa is staging a political comeback and heading the opposition campaign in the August 17 vote. Finance Minister Ravi Karunanayake told Reuters the excise tax take had been on the rise due to the streamlining of collection and reducing corruption and tax evasion. Income from motor vehicle imports more than doubled to 126.1 billion rupees in the same period, recording 97 percent of the full-year target.

Copyright Reuters, 2015

Comments

Comments are closed.