🅹🅸🅽🅲🅷🆄🆁🅸🅺🅸 🇱🇰

☝ Badminton Freak 🏸| WWE ❤ | Travel 👌 | Anime 😍 | Royalist 📑 | Vidyalion 📑 | UOJ 🎓 | COC 💋 | Buddhist 🙏 Proud Sri Lankan 💪 🇱🇰 📷 💀☸ 🇾🇨🇸

[🅹🅸🅽🅲🅷🆄🆁🅸🅺🅸 🇱🇰 @yasithe_]

කල්පනා ලෝකයේ සිරවී අැත 😬

[René Remsik @aitrendz_xyz]

6/ RemoteMouse

Turn your phone into a wireless mouse or keyboard for your computer.

[Sri Lanka Tweet 🇱🇰 @SriLankaTweet]

"BY THE BAREST OF MARGINS!"
#OnThisDay 2019, England won the epic World Cup final.
#CricketTwitter #CWC19

[DailyMirror @Dailymirror_SL]

Cartoon of the Day 17-05-2024

https://t.co/14YNbLRbLO

[Sri Lanka Tweet 🇱🇰 @SriLankaTweet]

Eid Mubarak to all Muslims in #SriLanka, around the World, my friends, tweeps, and followers who are celebrating #EidAlAdha🙏

Wishing you all Peace & Happiness ❤️
Muslims in Sri Lanka 🇱🇰 celebrate the Hajj Festival today!
#LKA #SriLanka #Hajj #HajjMubarak #EidMubarak

[Sri Lanka Tweet 🇱🇰 @SriLankaTweet]

Congratulations Chamari 🇱🇰🙏

Chamari Athapaththu with her ICC Women's ODI Cricketer of the Year 2023 trophy 🏆

Proud ❤️ @58Chamari
#SriLanka #LKA #CricketTwitter

[Sri Lanka Tweet 🇱🇰 @SriLankaTweet]

Congratulations 🇱🇰
Yupun Abeykoon secured third place in the Men's 100m event and Nadeesha Ramanayake won the second place in the Women's 400m event at the UAE Athletics Grand Prix 2024 #LKA #SriLanka

[Numbers.lk @numberslka]

The WSO2, one of the largest software firms in Sri Lanka 🇱🇰, announced today that it has signed a definitive agreement to be acquired by EQT Partners, one of the largest private equity firms in the world.

⭕ The terms of the deal were not disclosed, but according to @TechCrunch, the deal values WSO2 at "more than" $600 million. And EQT will own 100% of the company.

⭕ WSO2 was founded in 2005 by co-founders Sanjiva Weerawarana and Paul Fremantle and became a $100 million ARR (annual recurring revenue) company by 2024.

⭕ The acquisition is a dream exit for the early investors and the people who worked so hard in the last two decades to make the company what WSO2 is today. (Nearly 30% of the total proceeds are going to current and former employees of the company.)

Congratulations to @sanjiva and the WSO2 team & all the best for version 2 of @WSO2 as you aim to go beyond Asia and become a global powerhouse.! 👏👏

[Historic Vids @historyinmemes]

Evolution of Phone from 1991-2024

[🅹🅸🅽🅲🅷🆄🆁🅸🅺🅸 🇱🇰 @yasithe_]

😭

[NewsWire 🇱🇰 @NewsWireLK]

Emotional moment : Sri Lankan Badminton star Niluka Karunaratne retires

[Historic Vids @historyinmemes]

This was the footage used to develop the first Mortal Kombat in 1992

[Numbers.lk @numberslka]

📉📈 Tax Expectation vs. Tax Reality: A Case Study of the Excise Department

⭕️In 2023, the government raised taxes on liquor and tobacco by over 40%, yet the revenue increase was only 4%. This shows that higher taxes do not necessarily yield higher revenue, an important lesson for policymakers.

1. 🇱🇰 In 2022, Sri Lanka's Excise Department reported a revenue of LKR 170 billion.

2. 🚬🥂 Aiming to boost tax revenue, the government increased the excise duty on liquor and cigarettes by 20% in January 2023 setting a revenue target for the excise department of Rs. 217 billion.

3. 📊 The immediate impact of the tax hike was concerning at the time- a 35% decrease in expected excise revenue was reported during January and February of 2023.

4. Despite early indications of declining revenue, in July 2023 the government further increased the excise duty by an additional 20%.

5. At the end of the year, after a total tax increase of over 40%, the excise department's revenue stood at just LKR 177 billion, marking a modest 4% increase.

6. This was particularly striking, considering that 2022—a year marked by lockdowns, fuel queues, and economic turmoil—had already significantly dampened liquor sales, which were predicted to grow significantly in 2023.

7. ⚠️ These numbers make it abundantly clear that higher excise duties do not lead to higher revenue as policymakers expected.

8. In 2024, the government continues its approach of increasing taxes on these products, despite clear indicators of its ineffectiveness. It's evident that alcohol pricing has exceeded its sweet spot, the ideal point where the government could maximize its revenue.

9. Those who don't buy alcohol & tobacco legally are not quitting, they are moving to illegal and unsafe alcohol and tobacco products, like Kasippu, bedi, and cannabis, risking a more severe health and social crisis in the coming years.

10. Sri Lanka needs a strategy for pricing these products that is both well-informed and grounded in data. Continuously increasing taxes in a blind pursuit of higher government revenue is likely to be counterproductive. Additionally, this approach could give rise to further issues (societal/healthcare) that the government will be compelled to address in the future.

#SriLanka #Economy #ExciseDuty

[Sri Lanka Tweet 🇱🇰 @SriLankaTweet]

Today is Thai Pongal Day 🌞 !
இனிய தைப்பொங்கல் வாழ்த்துக்கள்!
Wish all the people in #SriLanka 🇱🇰, India 🇮🇳 & around the World, Friends and Followers a Very Happy Pongal & Year full of Joy 🙏

#HappyPongal2024🙏
#Pongal2024 #ThaiPongal #LKA #SriLankan #HappyPongal #Tamil #Hindu

[OpenMoon @OpenMoonAI]

Generating electricity from oncoming traffic is a genius idea!

[The Figen @TheFigen_]

This is brilliant filtering system.

[BWF @bwfmedia]

Happy birthday to @ViktorAxelsen! 🥳

We celebrate his best #badminton moments in 2️⃣0️⃣2️⃣3️⃣. 👏

[Marques Brownlee @MKBHD]

Remember the phrase “Multimodal AI” for 2024

[RVCJ Media @RVCJ_FB]

Friendship effect 😂

[🅹🅸🅽🅲🅷🆄🆁🅸🅺🅸 🇱🇰 @yasithe_]

Why does women choose chaos over peace? 🤔

[Words @wordstionary]

I’m ready 🤞

[The Figen @TheFigen_]

This is a good example of how if you are stubborn and don't give up on something that is harmful to you, it can destroy you.