The mid-year tax position report for 2019, which the Ministry of Finance presented to Parliament yesterday, estimates a loss to the income of Rs 50 billion in the nation resulting from the Easter Sunday terrorist attack.
The study reveals,’ On an original assessment of the effect on government revenue of the Easter Sunday assaults in the brief term, the direct contribution of the impacted industries such as finance, tourism, commerce and construction to government revenue would fall by about Rs.50 billion.’ Internal tax collection, in other words, the VAT and Nation Building Tax, had already been hampered by economic slow-downs and other imported taxes gathered. There was also the loss of public income from charges and charges. This trend affects 2019 income objectives including main equilibrium, budget, and debt funding, “added the study.
The study states that over the first four months of 2019 the complete public spending amounted to Rs.962 billion. During the period, recurring spending amounted to Rs 756 billion and capital expenditure to Rs 211 billion.
Over the first four months of this year, total public revenues reached Rs. 598 billion.