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62% (This consists of 40% income tax on the GBP 100k–125k band, an effective 20% due to the phase-out of the personal allowance, and 2% employee National Insurance). The marginal rate then drops to 47% for income above GBP 125k (45% income tax plus 2% employee National Insurance) [241] [242] 20% (standard rate) 5% (home energy and renovations)
The tax revenue to GDP ratio is just about 11.6 percent as of 2018, which is one of the lowest rates among the upper-middle income earning countries. [2] At present, the government of Sri Lanka also face major challenges regarding the continuous budget deficits where government expenditures have exceeded the government tax revenue. [3]
The rate for GST, effective since 1 October 2010 is 15%. [77] This 15% tax is applied to the final price of the product or service being purchased and goods and services are advertised as GST inclusive. Reduced rate GST (9%) applies to hotel accommodation on a long-term basis (longer than 4 weeks).
University Grants Commission is the body responsible for funding most of the State Universities in Sri Lanka, and operates within the frame work of the Universities Act No. 16 of 1978. A public organisation, established under the Parliament Act No 16 of 1978.
The university is a state university, with most of its funding coming from the central government via the University Grants Commission (UGC). Therefore, as with all other state universities in Sri Lanka, the UGC recommends its vice-chancellor for appointment by the President of Sri Lanka and makes appointments of its administrative staff.
Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [41] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [42]
It is the seventh largest university in Sri Lanka in student numbers. [2] In 2015/16 the university admitted 3,009 undergraduates. [3] UoJ had a recurrent budget of Rs. 2.2 billion and a capital budget of Rs. 1.2 billion in 2016. [4] [5] Its income in 2016 was Rs. 3.5 billion of which Rs. 3.4 billion (98%) was a grant from the central ...
SLTC Research University is a private university in Sri Lanka. [1] It conducts Engineering programs in Electronics, Telecommunications, Power Systems, Civil and Computing. Its degree programs are accredited by the Ministry of Higher Education and Highways and recognized by the university grants commission (UGC).