සිංහල தமிழ் English

The IMF tracker is an online tool that tracks the progress on government commitments in Sri Lanka's 2023 IMF Programme. The tracker will be updated on a monthly basis. Assessment as at 30 November 2024

Progress:

21%
18%
47%
14%

Proposed Commitments on Expenditure Arrears

Proposed Commitments on External Payment Arrears

Proposed Commitments on Corporate Income Tax

Proposed Commitments on Credit to Government

Proposed Commitments on Debt Sustainability

Proposed Commitments on Excises Customs Duties

Proposed Commitments on Financial Sector

Proposed Commitments on Fiscal Reforms

Proposed Commitments on Fuel and Electricity - these refer to the obligations of Ceylon Petroleum Corporation (CPC) and Ceylon Electricity Board (CEB) to supply fuel and electricity at prices below cost-recovery levels.

Proposed Commitments on Governance

Proposed Commitments on Import Restrictions

Proposed Commitments on Inflation

Proposed Commitments on Monetary Rate Policies

Proposed Commitments on Net official International Reserves

Proposed Commitments on Other Taxes

Proposed Commitments on Personal Income Taxation on Capital Income

Proposed Commitments on Personal Income Taxation on Labour Income

Proposed Commitments on Primary Balance - Primary balance refers to the difference between a government's total revenues and its total non-interest expenses

Commitments that had to be met before the IMF board approval

Proposed Commitments on Property and Wealth Taxes

Proposed Commitments on Social Net Reforms

Proposed Commitments on Social spending on, (1) Samurdhi cash transfers; (2) assistance to the elderly (over 70 years of age); (3) allowance for disabled people; and (4) financial support for kidney patients.

Proposed Commitments on State Owned Enterprice Reforms

Proposed Commitments on Tax Revenue

Proposed Commitments on Treasury guarantees - A guarantee of a debt refers to any explicit legal obligation of the central government to service such a debt in the event of nonpayment by the recipient. Treasury guarantees exclude letters of comfort.

Proposed Commitments on Value Added Tax

  • Ensure no new SDP projects are approved

    We are no longer providing any tax exemptions or incentives, and we are also no longer approving new projects under the SDP Act as of December 2023

    more
    Met

    31-Dec-23

  • Submission of PFM law to parliament

    Submission to Parliament of a new PFM law, based on IMF TA, that will authorize the budget formulation process, roles and responsibilities of relevant agencies, and information and accountability requirements

    more
    Met

    30-Jun-24

  • Implementation of the amendments to the Banking Act

    Implementation of the amendments to the Banking Act

    more
    Met

    30-Jun-24

  • Primary surplus of LKR 140 Bn by June 2024

    Primary surplus of LKR 140 Bn by June 2024

    more
    Met

    30-Jun-24

  • Net official international reserves atleast at -$1,710 Mn by June 2024

    Net official international reserves atleast at -$1,710 Mn by June 2024

    more
    Met

    30-Jun-24

  • Net credit to the government by the CBSL at a maximum of LKR 2,720 Bn by June 2024

    Net credit to the government by the CBSL at a maximum of LKR 2,720 Bn by June 2024

    more
    Met

    30-Jun-24

  • Tax Revenue at LKR 1,500 Bn by June 2024

    Tax Revenue at LKR 1,500 Bn by June 2024

    more
    Met

    30-Jun-24

  • New external payment arrears by the nonfinancial public sector and the CBSL at LKR 0 by June 2024

    New external payment arrears by the nonfinancial public sector and the CBSL at LKR 0 by June 2024

    more
    Met

    30-Jun-24

  • Stock of expenditure in arreras at a maximum of LKR 0 by June 2024

    Stock of expenditure in arreras at a maximum of LKR 0 by June 2024

    more
    Met

    30-Jun-24

  • CBSL purchases of government securities in the primary market at LKR 0 by June 2024

    CBSL purchases of government securities in the primary market at LKR 0 by June 2024

    more
    Met

    30-Jun-24

  • Cost of Non-Commercial Obligations for Fuel and Electricity (Net of Government Transfers) at LKR 0 Bn

    Cost of Non-Commercial Obligations for Fuel and Electricity (Net of Government Transfers) at LKR 0 Bn

    more
    Met

    30-Jun-24

  • Treasury guarantees at LKR 2,100 Bn by June 2024

    Treasury guarantees at LKR 2,100 Bn by June 2024

    more
    Met

    30-Jun-24

  • Finalize RAMIS enhancements

    Finalize enhancements of the RAMIS to support the assessment of 2022/23 income tax returns and to administer and assess the Social Security Contribution Levy (SSCL) by end June 2024

    more
    Met

    30-Jun-24

  • Ensure that processing tax collections is only carried out through RAMIS as of June 2024

    Ensure that processing tax collections is only carried out through RAMIS as of June 2024

    more
    Met

    30-Jun-24

  • Establish fuel prices that ensure atleast full cost recovery

    Set retail fuel prices to their cost-recovery levels with monthly formula-based adjustments, and compensate the CPC for providing any fuel subsidies with on- budget transfers

    more
    Met

    30-Jun-24

  • Publish quarterly debt bulletins

    Publish quarterly debt bulletins

    more
    Met

    30-Jun-24

  • Publish asset declarations for senior officials

    The operationalized Anticorruption commission shall publish asset declarations for senior officials in line with Anticorruption Act

    more
    Met

    31-Jul-24

  • Establish electricity prices that ensure atleast full cost recovery - Quarterly

    Maintain cost-recovery level of the end-user electricity tariff schedule (overall across different types of final consumers) with quarterly formulabased adjustments, on a forward-looking basis in January, April, July and October each year (effective from January 1, April 1, July 1, and October 1 respectively); the CEB submits tariff revision requests to the Public Utility Commission of Sri Lanka by end-October (for January tariff revisions), end-January (for April tariff revisions), end-April (for July tariff revisions) and end-July (for October tariff revisions); compensate the electricity sector for providing any residual subsidies with onbudget transfers; and use tariff surcharges in the interim, in case CEB is making losses

    more
    Met

    31-Jul-24

  • Primary surplus of LKR 220 Bn by Sept 2024

    Primary surplus of LKR 220 Bn by Sept 2024

    more
    Met

    30-Sep-24

  • Tax Revenue at LKR 2,400 Bn by Sept 2024

    Tax Revenue at LKR 2,400 Bn by Sept 2024

    more
    Met

    30-Sep-24

  • Social spending at LKR 150 Bn by Sept 2024

    Social spending at LKR 150 Bn by Sept 2024

    more
    Met

    30-Sep-24

  • Cost of Non-Commercial Obligations for Fuel and Electricity (Net of Government Transfers) at LKR 0 Bn

    Cost of Non-Commercial Obligations for Fuel and Electricity (Net of Government Transfers) at LKR 0 Bn

    more
    Met

    30-Sep-24

  • Treasury guarantees at LKR 2,100 Bn by Sept 2024

    Treasury guarantees at LKR 2,100 Bn by Sept 2024

    more
    Met

    30-Sep-24

  • Treasury FX guarantees at LKR 1,275 Bn by Sep 2024

    Treasury FX guarantees at LKR 1,275 Bn by Sep 2024

    more
    Met

    30-Sep-24

  • Establish electricity prices that ensure atleast full cost recovery - Quarterly

    Maintain cost-recovery level of the end-user electricity tariff schedule (overall across different types of final consumers) with quarterly formulabased adjustments, on a forward-looking basis in January, April, July and October each year (effective from January 1, April 1, July 1, and October 1 respectively); the CEB submits tariff revision requests to the Public Utility Commission of Sri Lanka by end-October (for January tariff revisions), end-January (for April tariff revisions), end-April (for July tariff revisions) and end-July (for October tariff revisions); compensate the electricity sector for providing any residual subsidies with onbudget transfers; and use tariff surcharges in the interim, in case CEB is making losses

    more
    Met

    31-Oct-24

  • Obtain Cabinet approval of the fiscal strategy statement (FSS) containing a medium-term fiscal framework (MTFF)

    Obtain Cabinet approval of the fiscal strategy statement (FSS) containing a medium-term fiscal framework (MTFF)

    more
    Not Met

    30-Jun-24

  • Submission to Parliament revenue measures for 2025

    Submission to Parliament of revenue measures to support fiscal consolidation during 2025, in line with program parameters: 1) Introduce an imputed rental income tax 2) Introduce the VAT tax at a rate of 18% of GDP on items currently subject to special commodity levy (which will be removed) 3) Introduce VAT on the supply of digital services 4) Remove the CIT exemption on the export of services 5) Increase the CIT rate on betting and gaming, tobacco and liquor industries from 40% to 45% 6) Lifting of import restrictions on motor vehicles 7) Increase stamp duties on lease contracts from 0.1% to 0.2%

    more
    Not Met

    30-Jun-24

  • Fully operationalize the Bulk Supply Transaction Account (BSTA)

    Fully operationalize the BSTA by adopting the rule requiring the regulator to use it to determine the cost-recovery based electricity tariff and government transfer requirement

    more
    Not Met

    30-Jun-24

  • Publish semi-annually public procurement contracts and estimation of tax exemptions

    Publish on a semi-annual basis on a designated website (i) all public procurement contracts above Rs. 1 billion, along with comprehensive information in a searchable format on contract award winners; (ii) a list of all firms receiving tax exemptions through the Board of Investment and the SDP, and an estimation of the value of the tax exemption; and (iii) a list of firms receiving tax exemptions on luxury vehicle import

    more
    Not Met

    30-Jun-24

  • Year-on-year inflation in Colombo Consumers Price Index between 8 and 2 percent by June 2024

    Year-on-year inflation in Colombo Consumers Price Index between 8 and 2 percent by June 2024

    more
    Not Met

    30-Jun-24

  • Social spending at LKR 100 Bn by June 2024

    Social spending at LKR 100 Bn by June 2024

    more
    Not Met

    30-Jun-24

  • Streamline the online portal for simplified individual income tax filing

    Streamline the online portal for simplified individual income tax filing by June 2024

    more
    Not Met

    30-Jun-24

  • Change legislation to make the minister responsible for fuel and electricity pricing

    Introduce legislative reforms making the Minister of Power and Energy responsible for implementing cost-recovery based fuel and electricity price adjustments.

    more
    Not Met

    30-Jun-24

  • Publish audited 2023 financial statements of all 52 major SOEs

    Publish audited 2023 financial statements of all 52 major SOEs by end-June 2024

    more
    Not Met

    30-Jun-24

  • Removal of import restrictions on vehicles for commercial purposes

    In order to support the recovery, we will relax restrictions on vehicles used for commercial purposes by June 2024

    more
    Not Met

    30-Jun-24

  • Obtain parliamentary approval for revenue measures for 2025

    Parliamentary approval of revenue measures to support fiscal consolidation during 2025, in line with program parameters

    more
    Not Met

    31-Jul-24

  • Complete recapitalization of two large state owned banks

    Completion of the recapitalization for two largest Stateowned banks including the completion of restructuring of CPC FX loans

    more
    Not Met

    31-Aug-24

  • Obtain cabinet approval for a plan to deliver RAMIS 3.0

    Obtain cabinet approval of a prioritized, time-bound, and costed Information Technology (IT) Strategic Plan to deliver RAMIS version 3.0 with the needed functionality enhancements and design improvements

    more
    Not Met

    31-Aug-24

  • Year-on-year inflation in Colombo Consumers Price Index between 8 and 2 percent by Sept 2024

    Year-on-year inflation in Colombo Consumers Price Index between 8 and 2 percent by Sept 2024

    more
    Not Met

    30-Sep-24

  • Amend the National Audit Act to enable the Auditor General to levy fines on officials, who fail to fulfill their responsibilities in overseeing and managing the public assets

    Amend the National Audit Act by September 2024 to enable the Auditor General to levy fines on officials, including Chief Accounting Officers, who fail to fulfill their responsibilities in overseeing and managing the public assets

    more
    Not Met

    30-Sep-24

  • Develop amendments to the Companies Act to bring the beneficial ownership framework in line with the FATF standards

    We are developing amendments to the Companies Act to bring the beneficial ownership framework in line with the FATF standards, for adoption by end-September 2024

    more
    Not Met

    30-Sep-24

  • Publish quarterly debt bulletins

    Publish quarterly debt bulletins

    more
    Not Met

    30-Sep-24

  • Submission to Parliament for the first reading of the 2025 Appropriation Bill that is in line with program parameters

    Submission to Parliament for the first reading of the 2025 Appropriation Bill that is in line with program parameters

    more
    Not Met

    31-Oct-24

  • Publish a strategic plan for the CIABOC

    Publish a strategic plan for the CIABOC, in consultation with the IMF, describing its mission, objectives, timebound actions for operations, and a monitoring framework, together with submission of CIABOC’s annual budget, (based on the new strategic plan).

    more
    Not Met

    31-Oct-24

  • Reporting of monthly cashflows by Department of State Accounts

    The MOF’s Department of State Accounts will report monthly cash flows from revenues, expenditures, and financing by the third business day of the subsequent month

    more
    Not Met

    31-Oct-24

  • Enact a comprehensive Asset Recovery Law

    Enact a comprehensive Asset Recovery Law to harmonize it with the United Nations Convention Against Corruption within the Proceeds of Crime legislation , in consultation with IMF staff

    more
    Not Met

    30-Nov-24

  • Parliamentary approval of the 2025 Appropriation Act and the spending allocations in line with program parameters

    Parliamentary approval of the 2025 Appropriation Act and the spending allocations in line with program parameters

    more
    Pending

    31-Dec-24

  • Obtain a cabinet approval of the repayment schedule of CEB's legacy debts

    Obtain a cabinet approval of the repayment schedule of CEB's legacy debts, starting in April 2025

    more
    Pending

    31-Dec-24

  • Completion of the recapitalization for private sector banks

    Completion of the recapitalization for private sector banks

    more
    Pending

    31-Dec-24

  • Establish Public Debt Management Agency (PDMA)

    Establish Public Debt Management Agency (PDMA)

    more
    Pending

    31-Dec-24

  • Primary surplus of LKR 300 Bn by Dec 2024

    Primary surplus of LKR 300 Bn (1 percent of GDP) by Dec 2024

    more
    Pending

    31-Dec-24

  • Net official international reserves atleast at -$1,338 Mn by Dec 2024

    Net official international reserves atleast at -$1,338 Mn by Dec 2024

    more
    Pending

    31-Dec-24

  • Net credit to the government by the CBSL at a maximum of LKR 2,560 Bn by Dec 2024

    Net credit to the government by the CBSL at a maximum of LKR 2,560 Bn by Dec 2024

    more
    Pending

    31-Dec-24

  • Tax Revenue at LKR 3,700 Bn by Dec 2024

    Tax Revenue at LKR 3,700 Bn by Dec 2024

    more
    Pending

    31-Dec-24

  • New external payment arrears by the nonfinancial public sector and the CBSL at LKR 0 by Dec 2024

    New external payment arrears by the nonfinancial public sector and the CBSL at LKR 0 by Dec 2024

    more
    Pending

    31-Dec-24

  • Stock of expenditure in arreras at a maximum of LKR 0 by Dec 2024

    Stock of expenditure in arreras at a maximum of LKR 0 by Dec 2024

    more
    Pending

    31-Dec-24

  • CBSL purchases of government securities in the primary market at LKR 0 by Dec 2024

    CBSL purchases of government securities in the primary market at LKR 0 by Dec 2024

    more
    Pending

    31-Dec-24

  • Year-on-year inflation in Colombo Consumers Price Index between 8 and 2 percent by Dec 2024

    Year-on-year inflation in Colombo Consumers Price Index between 8 and 2 percent by Dec 2024

    more
    Pending

    31-Dec-24

  • Social spending at LKR 205 Bn by Dec 2024

    Social spending at LKR 205 Bn by Dec 2024

    more
    Pending

    31-Dec-24

  • Cost of Non-Commercial Obligations for Fuel and Electricity (Net of Government Transfers) at LKR 0 Bn

    Cost of Non-Commercial Obligations for Fuel and Electricity (Net of Government Transfers) at LKR 0 Bn

    more
    Pending

    31-Dec-24

  • Treasury guarantees at LKR 2,100 Bn by Dec 2024

    Treasury guarantees at LKR 2,100 Bn by Dec 2024

    more
    Pending

    31-Dec-24

  • Treasury FX guarantees at LKR 1,275 Bn by Dec 2024

    Treasury FX guarantees at LKR 1,275 Bn by Dec 2024

    more
    Pending

    31-Dec-24

  • IRD to solicit information from 100 profiled HWI taxpayers via questionnaire

    IRD to solicit, by end-December 2024, information from 100 profiled HWI taxpayers via questionnaire

    more
    Pending

    31-Dec-24

  • Increase coverage of Aswesuma up to 2.4 million families

    We also expect to increase coverage of Aswesuma up to 2.4 million families by end-2024

    more
    Pending

    31-Dec-24

  • Update our fiscal reporting framework to the GFSM 2014 standard by end-2024

    Update our fiscal reporting framework to the GFSM 2014 standard by end-2024

    more
    Pending

    31-Dec-24

  • Prepare and publish a PFM reform strategy and action plan

    We will prepare and publish on the MOF website a medium-term PFM Reform Strategy and Action Plan by end-December 2024

    more
    Pending

    31-Dec-24

  • The IRD will publish a public report on steps taken and results obtained on the staff code of conduct

    The IRD has implemented a staff Code of Conduct, will produce a public report on steps taken and results obtained by December 2024

    more
    Pending

    31-Dec-24

  • Enact a Public Procurement Law

    Enact a Public Procurement Law by December 2024

    more
    Pending

    31-Dec-24

  • Publish quarterly debt bulletins

    Publish quarterly debt bulletins

    more
    Pending

    31-Dec-24

  • Publish semi-annually public procurement contracts and estimation of tax exemptions

    Publish on a semi-annual basis on a designated website (i) all public procurement contracts above Rs. 1 billion, along with comprehensive information in a searchable format on contract award winners; (ii) a list of all firms receiving tax exemptions through the Board of Investment and the SDP, and an estimation of the value of the tax exemption; and (iii) a list of firms receiving tax exemptions on luxury vehicle import.

    more
    Pending

    31-Dec-24

  • Ensure restoring of the parate law

    The recent temporary Parate law suspension will not be renewed after it expires in December 2024

    more
    Pending

    31-Jan-25

  • Establish electricity prices that ensure atleast full cost recovery - Quarterly

    Maintain cost-recovery level of the end-user electricity tariff schedule (overall across different types of final consumers) with quarterly formulabased adjustments, on a forward-looking basis in January, April, July and October each year (effective from January 1, April 1, July 1, and October 1 respectively); the CEB submits tariff revision requests to the Public Utility Commission of Sri Lanka by end-October (for January tariff revisions), end-January (for April tariff revisions), end-April (for July tariff revisions) and end-July (for October tariff revisions); compensate the electricity sector for providing any residual subsidies with onbudget transfers; and use tariff surcharges in the interim, in case CEB is making losses

    more
    Pending

    31-Jan-25

  • Introduce, track and report revised quarterly KPIs of tax compliance

    Introduce, track and report revised quarterly KPIs of tax compliance

    more
    Pending

    28-Feb-25

  • Submit to parliament amendments to the SDP Act to introduce transparent eligibility criteria for tax incentives

    Submission to parliament amendments to the SDP Act, with IMF technical assistance, introducing transparent, rules based eligibility criteria, to increase the effectiveness of granted tax incentives, and to limit the duration for which incentives can be granted

    more
    Pending

    28-Feb-25

  • Primary surplus of LKR 130 Bn by Mar 2025

    Primary surplus of LKR 130 Bn by Mar 2025

    more
    Pending

    31-Mar-25

  • Net official international reserves atleast at -$1,088 Mn by Mar 2025

    Net official international reserves atleast at -$1,088 Mn by Mar 2025

    more
    Pending

    31-Mar-25

  • Net credit to the government by the CBSL at a maximum of LKR 2,560 Bn by Mar 2025

    Net credit to the government by the CBSL at a maximum of LKR 2,560 Bn by Mar 2025

    more
    Pending

    31-Mar-25

  • Tax Revenue at LKR 850 Bn by Mar 2025

    Tax Revenue at LKR 850 Bn by Mar 2025

    more
    Pending

    31-Mar-25

  • New external payment arrears by the nonfinancial public sector and the CBSL at LKR 0 by Mar 2025

    New external payment arrears by the nonfinancial public sector and the CBSL at LKR 0 by Mar 2025

    more
    Pending

    31-Mar-25

  • Stock of expenditure in arreras at a maximum of LKR 0 by Mar 2025

    Stock of expenditure in arreras at a maximum of LKR 0 by Mar 2025

    more
    Pending

    31-Mar-25

  • CBSL purchases of government securities in the primary market at LKR 0 by Mar 2025

    CBSL purchases of government securities in the primary market at LKR 0 by Mar 2025

    more
    Pending

    31-Mar-25

  • Year-on-year inflation in Colombo Consumers Price Index between 8 and 2 percent by Mar 2025

    Year-on-year inflation in Colombo Consumers Price Index between 8 and 2 percent by Mar 2025

    more
    Pending

    31-Mar-25

  • Social spending at LKR 55 Bn by Mar 2025

    Social spending at LKR 55 Bn by Mar 2025

    more
    Pending

    31-Mar-25

  • Cost of Non-Commercial Obligations for Fuel and Electricity (Net of Government Transfers) at LKR 0 Bn

    Cost of Non-Commercial Obligations for Fuel and Electricity (Net of Government Transfers) at LKR 0 Bn

    more
    Pending

    31-Mar-25

  • Treasury guarantees at LKR 2,100 Bn by Mar 2025

    Treasury guarantees at LKR 2,100 Bn by Mar 2025

    more
    Pending

    31-Mar-25

  • Treasury FX guarantees at LKR 1,275 Bn by Mar 2025

    Treasury FX guarantees at LKR 1,275 Bn by Mar 2025

    more
    Pending

    31-Mar-25

  • Publish quarterly debt bulletins

    Publish quarterly debt bulletins

    more
    Pending

    31-Mar-25

  • Establish and fully operationalize a digital Sales Price and Rents Register (SPRR)

    Establish and fully operationalize a digital SPRR that is accessible by IRD, the valuation department, the land registry and the general public

    more
    Pending

    31-Mar-25

  • Amend the Notaries Act to ensure information on each notarized real property contract is automatically fed into the SPRR

    Amend the Notaries Act by April 2025 to ensure comprehensive information on each notarized real property contract (which will include the valuation roll, the cadastral number, and a unique tax ID) is automatically fed into the digital SPRR

    more
    Pending

    30-Apr-25

  • Ensure the full repeal of the SVAT system by April 2025

    Ensure the full repeal of the SVAT system by April 2025

    more
    Pending

    30-Apr-25

  • Establish electricity prices that ensure atleast full cost recovery - Quarterly

    Maintain cost-recovery level of the end-user electricity tariff schedule (overall across different types of final consumers) with quarterly formulabased adjustments, on a forward-looking basis in January, April, July and October each year (effective from January 1, April 1, July 1, and October 1 respectively); the CEB submits tariff revision requests to the Public Utility Commission of Sri Lanka by end-October (for January tariff revisions), end-January (for April tariff revisions), end-April (for July tariff revisions) and end-July (for October tariff revisions); compensate the electricity sector for providing any residual subsidies with onbudget transfers; and use tariff surcharges in the interim, in case CEB is making losses

    more
    Pending

    30-Apr-25

  • Introduce, track and report revised quarterly KPIs of tax compliance

    Introduce, track and report revised quarterly KPIs of tax compliance

    more
    Pending

    31-May-25

  • Publish quarterly debt bulletins

    Publish quarterly debt bulletins

    more
    Pending

    30-Jun-25

  • Publish semi-annually public procurement contracts and estimation of tax exemptions

    Publish on a semi-annual basis on a designated website (i) all public procurement contracts above Rs. 1 billion, along with comprehensive information in a searchable format on contract award winners; (ii) a list of all firms receiving tax exemptions through the Board of Investment and the SDP, and an estimation of the value of the tax exemption; and (iii) a list of firms receiving tax exemptions on luxury vehicle import.

    more
    Pending

    30-Jun-25

  • Establish electricity prices that ensure atleast full cost recovery - Quarterly

    Maintain cost-recovery level of the end-user electricity tariff schedule (overall across different types of final consumers) with quarterly formulabased adjustments, on a forward-looking basis in January, April, July and October each year (effective from January 1, April 1, July 1, and October 1 respectively); the CEB submits tariff revision requests to the Public Utility Commission of Sri Lanka by end-October (for January tariff revisions), end-January (for April tariff revisions), end-April (for July tariff revisions) and end-July (for October tariff revisions); compensate the electricity sector for providing any residual subsidies with onbudget transfers; and use tariff surcharges in the interim, in case CEB is making losses

    more
    Pending

    31-Jul-25

  • Publish quarterly debt bulletins

    Publish quarterly debt bulletins

    more
    Pending

    30-Sep-25

  • Establish electricity prices that ensure atleast full cost recovery - Quarterly

    Maintain cost-recovery level of the end-user electricity tariff schedule (overall across different types of final consumers) with quarterly formulabased adjustments, on a forward-looking basis in January, April, July and October each year (effective from January 1, April 1, July 1, and October 1 respectively); the CEB submits tariff revision requests to the Public Utility Commission of Sri Lanka by end-October (for January tariff revisions), end-January (for April tariff revisions), end-April (for July tariff revisions) and end-July (for October tariff revisions); compensate the electricity sector for providing any residual subsidies with onbudget transfers; and use tariff surcharges in the interim, in case CEB is making losses

    more
    Pending

    31-Oct-25

  • Primary surplus to 2.3 percent of GDP by end 2025

    Primary surplus to 2.3 percent of GDP by end 2025

    more
    Pending

    31-Dec-25

  • Implementation of a VAT compliance improvement program in 2025 to detect and deter noncompliance

    Implementation of a VAT compliance improvement program in 2025 to detect and deter noncompliance

    more
    Pending

    31-Dec-25

  • Increase total Aswesuma spending to LKR 225 billion

    In 2025, we will increase the total spending on Aswesuma and the empowerment program to Rs. 225 billion

    more
    Pending

    31-Dec-25

  • Publish quarterly debt bulletins

    Publish quarterly debt bulletins

    more
    Pending

    31-Dec-25

  • Publish semi-annually public procurement contracts and estimation of tax exemptions

    Publish on a semi-annual basis on a designated website (i) all public procurement contracts above Rs. 1 billion, along with comprehensive information in a searchable format on contract award winners; (ii) a list of all firms receiving tax exemptions through the Board of Investment and the SDP, and an estimation of the value of the tax exemption; and (iii) a list of firms receiving tax exemptions on luxury vehicle import.

    more
    Pending

    31-Dec-25

  • Finalize a detailed plan on the removal of import restrictions on motor vehicles

    Finalize a detailed plan on the removal of import restrictions on motor vehicles

    more
    Unknown

    30-Jun-24

  • Complete data verifications of second round of Aswesuma applications

    Complete data verifications of second round of Aswesuma applications by June 2024

    more
    Unknown

    30-Jun-24

  • Strengthen the capacity of the macro-fiscal unit in the Ministry of Finance

    With the help of IMF CD, we will also strengthen the capacity of the macro-fiscal unit in the MoF’s Fiscal Policy Department by allocating trained staff dedicated to macroeconomic forecasting and research by end-June 2024

    more
    Unknown

    30-Jun-24

  • Fully document and endorse for implementation the medium-term IRD Modernization Strategy

    Fully document and endorse for implementation the medium-term IRD Modernization Strategy and Implementation Plan with IMF FAD CD assistance by end-July 2024

    more
    Unknown

    31-Jul-24

  • Develop a plan for an anti-corruption programme in each revenue department

    Develop in each revenue department an implementation plan to launch a program of anti-corruption measures to strengthen the Code of Conduct, Internal Affairs department, risk management and automation

    more
    Unknown

    31-Aug-24

  • Establish a digital Sales Price and Rents Register (SPRR)

    Introduce a provisional nationwide digital Sales Price and Rents Register (SPRR) by August 2024

    more
    Unknown

    31-Aug-24

  • Introduce, track and report revised quarterly KPIs of tax compliance

    Introduce, track and report revised quarterly KPIs of tax compliance

    more
    Unknown

    31-Aug-24

  • Collection key property information from a representative sample

    Collect information from a representative sample of 5,000 standard properties that includes key variables, including annual values, latest assessment date, and property type, of all properties in all municipal councils

    more
    Unknown

    31-Aug-24

  • Net official international reserves atleast at -$1,524 Mn by Sept 2024

    Net official international reserves atleast at -$1,524 Mn by Sept 2024

    more
    Unknown

    30-Sep-24

  • Net credit to the government by the CBSL at a maximum of LKR 2,560 Bn by Sept 2024

    Net credit to the government by the CBSL at a maximum of LKR 2,560 Bn by Sept 2024

    more
    Unknown

    30-Sep-24

  • New external payment arrears by the nonfinancial public sector and the CBSL at LKR 0 by Sept 2024

    New external payment arrears by the nonfinancial public sector and the CBSL at LKR 0 by Sept 2024

    more
    Unknown

    30-Sep-24

  • Stock of expenditure in arreras at a maximum of LKR 0 by Sept 2024

    Stock of expenditure in arreras at a maximum of LKR 0 by Sept 2024

    more
    Unknown

    30-Sep-24

  • CBSL purchases of government securities in the primary market at LKR 0 by Sept 2024

    CBSL purchases of government securities in the primary market at LKR 0 by Sept 2024

    more
    Unknown

    30-Sep-24

  • Completion of risk profiling of the largest 100 High Wealth Individuals (HWI) taxpayers by September 2024

    Completion of risk profiling of the largest 100 High Wealth Individuals (HWI) taxpayers by September 2024

    more
    Unknown

    30-Sep-24

  • Begin testing procedures for VAT refund

    We expect to begin testing these new procedures in a limited and controlled manner by September 2024. These procedures include: (i) identify the exporters that would strictly be eligible for VAT refunds, (ii) extract from IT systems a comprehensive compliance history of eligible VAT taxpayers, (iii) commence risk profiling for exporters, (iv) develop post payment validation and verification procedures and (v) ensure adequate funding for the VAT refund account

    more
    Unknown

    30-Sep-24

  • Completion of the Intergrated Treasury Management System (ITMIS)

    Completion of the Intergrated Treasury Management System (ITMIS)

    more
    Unknown

    31-Oct-24

  • Introduce, track and report revised quarterly KPIs of tax compliance

    Introduce, track and report revised quarterly KPIs of tax compliance

    more
    Unknown

    30-Nov-24

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