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New Year Shopping Crowd In Colombo

A crowd is gathering for the New Year shopping season at the main clothing market in Petta, Colombo, Sri Lanka, on December 30, 2023. Meanwhile, Sri Lanka's cabinet is approving a 3% VAT increase from 15% to 18%, effective from January 1, 2024, in an effort to meet revenue targets and secure International Monetary Fund loans. (Photo by Akila Jayawardena/NurPhoto)

Photo Details

Photo ID	#10880874
Date Taken	30 December 2023
Location	N/A
Photographer	Akila Jayawardena/NurPhoto
Category	Economy, Business and Finance
Copyright	© 2026 NurPhoto - Akila Jayawardena/NurPhoto

Related Keywords

Sri LankaColomboPettahShopping Smart TVSouth AsiaVATAsia2024New New Year shopping season Petta clothing market Colombo Sri Lanka December 30 2023 cabinet approval VAT increase 15% 18% January 1 2024 revenue targets International Monetary Fund loans Akila Jayawardena NurPhoto tax policy economic measures consumer spending fiscal policy government revenue retail industry financial stability IMF conditions taxation economic reform public finance market crowd holiday shopping South Asia financial news business regulation consumer behavior economic strategy

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