Navigating the Road to Budget 2027-by Suresh R.I Perera
Source:Sundayobserver
As Sri Lanka charts its course toward sustained economic recovery and fiscal stability, expectations surrounding Budget 2027 are taking center stage. Balancing revenue mobilization with investor confidence, rationalizing tax frameworks, and fostering growth-oriented policy reforms will be pivotal in shaping the national economic trajectory for the coming year.
The Medium-Term Revenue Strategy, or MTRS, should be more than a collection of revenue targets. It should explain how Sri Lanka intends to raise sustainable revenue, distribute the burden fairly and improve administration over several years.
Its guiding principle should be straightforward: collect more effectively before repeatedly increasing the burden on those already complying.
Six priorities deserve attention:
preventing foreign capture of tax concessions, redesigning investment incentives, introducing cryptocurrency-specific rules, closing offshore indirect share transfer gaps, collecting betting, gaming taxes effectively and reforming the recently introduced digital VAT framework by introducing platform liability and the reverse charge mechanism. Alongside these measures, personal taxation requires a comprehensive review grounded in ability to pay.
These proposals should be costed, consulted upon and implemented through published deadlines. A strategy without accountable delivery would merely postpone reform.
A comprehensive look at key policy considerations, emerging priorities, and what businesses should anticipate in the upcoming budget:
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