Sri Lanka - Taxes on goods and services (current LCU)

The value for Taxes on goods and services (current LCU) in Sri Lanka was 971,822,000,000 as of 2019. As the graph below shows, over the past 29 years this indicator reached a maximum value of 1,059,090,000,000 in 2018 and a minimum value of 31,388,000,000 in 1990.

Definition: Taxes on goods and services include general sales and turnover or value added taxes, selective excises on goods, selective taxes on services, taxes on the use of goods or property, taxes on extraction and production of minerals, and profits of fiscal monopolies.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files.

Year Value
1990 31,388,000,000
1991 35,140,000,000
1992 40,149,000,000
1993 49,490,000,000
1994 57,156,000,000
1995 71,847,000,000
1996 78,709,000,000
1997 87,830,000,000
1998 91,706,000,000
1999 102,391,000,000
2000 122,802,000,000
2001 136,632,000,000
2002 149,852,000,000
2003 152,533,000,000
2004 191,525,000,000
2005 227,935,000,000
2006 259,183,000,000
2007 286,157,000,000
2008 306,409,000,000
2009 272,383,000,000
2010 355,366,000,000
2011 407,664,000,000
2012 492,300,000,000
2013 506,906,000,000
2014 539,023,000,000
2015 724,282,000,000
2016 840,564,000,000
2017 1,023,700,000,000
2018 1,059,090,000,000
2019 971,822,000,000

Limitations and Exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries.

Statistical Concept and Methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance