Former Finance Minister Mangala Samaraweera today (6) demanded that the government reveal the estimated revenue loss from the recently declared tax concessions.
"The Parliament has the right to know the exact figures of the revenue loss from its new tax concession scheme," Samaraweera pointed out.
Samaraweera added that debt servicing alone for the year 2020 will cost the government Rs. 1700 billion while salaries and pensions for the year 2020 will cost Rs. 1.1 trillion.
He questioned as to whether the money allocated to health, education and Samurdhi will be used to cover the revenue shortage.
Concerns were raised as to how the government would offset the revenue shortfall following the massive tax cuts in line with President Gotabaya Rajapaksa’s election promises in November last year.
The government has not yet revealed the tax loss nor has proposed a comprehensive mechanism to offset the expected revenue short fall from the tax cuts.
Govt. questioned on impact of tax cuts
06 Feb 2020
Govt. questioned on impact of tax cuts
06 Feb 2020
Former Finance Minister Mangala Samaraweera today (6) demanded that the government reveal the estimated revenue loss from the recently declared tax concessions.
"The Parliament has the right to know the exact figures of the revenue loss from its new tax concession scheme," Samaraweera pointed out.
Samaraweera added that debt servicing alone for the year 2020 will cost the government Rs. 1700 billion while salaries and pensions for the year 2020 will cost Rs. 1.1 trillion.
He questioned as to whether the money allocated to health, education and Samurdhi will be used to cover the revenue shortage.
Concerns were raised as to how the government would offset the revenue shortfall following the massive tax cuts in line with President Gotabaya Rajapaksa’s election promises in November last year.
The government has not yet revealed the tax loss nor has proposed a comprehensive mechanism to offset the expected revenue short fall from the tax cuts.
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Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Automobile, Mother and Baby Products, Clothing, and Fashion. Additionally, Kapruka offers unique online services like Money Remittance, Astrology, Medicine Delivery, and access to over 700 Top Brands. Also If you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.Send love straight to their heart this Valentine's with our thoughtful gifts!