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Numbers.lk
@numberslka
We tell compelling stories with numbers about sports 🏏, elections 🗳️, science 🧪, economics 💰 and current affairs 🗺️ us - https://t.co/zx1JpH8Cmk
Nov 30, 2024 • 4 tweets • 2 min read
📊 Top Misconceptions About Tax Returns in Sri Lanka 🇱🇰

❌“PAYE or APIT Deducted by the Employer Means No Return Filing Is Necessary”

❌“Fixed Deposit (FD) Taxes Are Fully Deducted by the Bank”

❌ “If I Don’t Have a TIN, I Don’t Need to File Returns”

Thread 🧵👇 ❌ “PAYE or APIT Deducted by the Employer Means No Return Filing Is Necessary”

Reality: If your employer deducts PAYE (Pay-As-You-Earn) or APIT (Advance Personal Income Tax), it does not exempt you from filing a return.

Filing allows you to reconcile taxes paid against your total income, including earnings from interest, investments, or other sources of income.
Jun 22, 2024 • 17 tweets • 4 min read
Collecting over Rs. 100 billion from a novel tax like the Imputed Rental Income Tax is already an extremely challenging task. What makes even less analytical sense is the President's statement in Parliament declaring primary residences exempt from this tax. Thread 👇 Image Imputed rental income tax is a new tax the government plans to introduce, replacing the previously planned property tax. It uses the estimated income a homeowner could earn from a residential property if they rented it out as the base.

Jul 14, 2023 • 6 tweets • 2 min read
MP: Mahindananda Aluthgamage yesterday stated:

"There are 500,000 personal income tax files in this country, only 31,000 of them are paying tax"

Is he correct?

⭕ No. This is 2023, He is off by at least 1.5 million, possibly by 2-3 million.

#SriLanka #IncomeTax Image MP Aluthgamage seems to be stuck in 2021, he was probably quoting from the 2021 IRD Performance Report without realizing his new boss Ranil Wickramasinghe has replaced his old boss's (GOTA's) tax policies. Image
Apr 1, 2023 • 38 tweets • 8 min read
When Greed Meets Green: CEB's Strongman Tactics Threaten Sri Lanka's Solar Industry and Sustainable Future

Thread 👇 Championing clean energy as a way towards a sustainable future is a hot topic in Sri Lanka, Presendent @RW_UNP even has an “International Climate Adviser" in @ErikSolheim. However, the reality is quite different from their promises. 1/37