Macro stabilization and two major tax reforms were the key outcomes of the first half
of the program. Sri Lanka is pursuing a 3-year reform program with IMF support under the
extended arrangement under the Extended Fund Facility (EFF) since June 2016. Performance has
been broadly on track regarding fiscal consolidation, revenue mobilization, monetary policy
management, and reserves accumulation. The government legislated in 2016 the VAT amendments
which increased VAT rates and narrowed exemptions. The program’s landmark reform, the new
Inland Revenue Act, was legislated in October 2017 and will be implemented in April 2018.
Consistent with the objectives of the EFF-supported program, the authorities announced a new farreaching
economic plan titled Vision 2025 in September 2017.
Add to Cart by clicking price of the language and format you'd like to purchase
Available Languages and Formats
Prices in red indicate formats that are not yet available but are forthcoming.