Government earns a tax revenue 176% more than the profit of SLT amidst COVID-19

Sri Lanka government earned Rs. 11.8 billion tax revenue from Sri Lanka Telecom (SLT) which is 176% above the net profit of the company.

SLT, a telecommunication service provider public and private partnership, has recorded 35% growth, Rs. 67.2 billion income and Rs. 6.7 billion net profit in the first nine months of 2020, performing brilliantly amidst COVID-19 pandemic, the company said in an advertorial published today. 

SLT has paid direct and indirect taxes of Rs. 11.8 billion to the government. The revenue the government earned from SLT is 176% higher than the companies net profit. 

Although SLT Peo TV, SLT Broadband and Mobitel Broadband revenue increased during this period, the revenue from voice calls of SLT and Mobitel declined compared to the last year, the company said.