| dc.contributor.author | Econ Team | |
| dc.date.accessioned | 2025-07-14T05:24:56Z | |
| dc.date.available | 2025-07-14T05:24:56Z | |
| dc.date.issued | 2025-02-09 | |
| dc.identifier.uri | https://archive.veriteresearch.org/handle/456/7434 | |
| dc.description | This infographic was posted on the Public Finance Platform (Insight: VAT revenue collection: Maldives highest, Sri Lanka lowest) in English and can be accessed from the link below. | en_US |
| dc.description.abstract | Sri Lanka has the lowest tax revenue collected through Value Added Tax (VAT) in South Asia while Maldives with a lower tax rate collects nearly 5 times more through its Goods and Services Tax (GST).
In 2023, Sri Lanka’s VAT rate was 15%, which generated LKR 694 billion—equivalent to 2.5% of GDP—making it the lowest in South Asia. In contrast, countries with similar or lower VAT rates collected higher revenue. For example, Bangladesh, with a similar rate, collected revenue amounting to 3.6% of GDP, and Nepal, with a lower rate of 13%, generated 5.3% of its GDP from VAT in 2023.
The Maldives stands out with a Goods and Services Tax (GST) that raises revenue amounting to 12% of GDP, despite having a lower average rate of about 12% (8% for general GST and 16% for tourism GST). | en_US |
| dc.language.iso | en | en_US |
| dc.publisher | Colombo: Verité Research | en_US |
| dc.relation.ispartofseries | Public Finance Infographics; | |
| dc.relation.uri | https://www.publicfinance.lk/en/topics/vat-revenue-collection-maldives-highest-sri-lanka-lowest-1738925161 | en_US |
| dc.subject | Public Finance - Value added tax | en_US |
| dc.subject | Public Finance - Tax revenue | en_US |
| dc.subject | Public Finance - South Asia | en_US |
| dc.subject | Public Finance - Value added tax rate | en_US |
| dc.subject | Public Finance - Goods and services tax | en_US |
| dc.title | VAT's Maldives got right? | en_US |
| dc.type | Infographics | en_US |
