Sri Lanka delegation discussed taxes, revenues with IMF: Minister
A Sri Lanka delegation had discussed taxes and revenue targets during a visit the International Monetary Fund headquarters in the US, Minister Vijitha Herath said.
“Especially on current taxes, including VAT and other taxes, on revenues and how to achieve them,” Minister Herath said.“There were no final decisions made.”
Sri Lanka has to have a budget for 2025 to set revenue and primary balance targets for June 2025, which are quantitative performance criteria when negotiating the next staff level agreement.
The IMF is quite keen on boosting revenues rather than cutting spending. Spending cuts can also achieve the primary deficit.
Sri Lanka was supposed to conduct a review on June 2024 data around September but the elections had delayed the review.
