Dr. P.B Jayasundara, the Secretary to President, said that despite predictions, Sri Lanka honoured all its debt in 2020 and will do so in 2021 as well.
Speaking at a function held yesterday, Dr. Jayasundara said the people asked how the government is managing debt settlement.
“We have USD 4.5 billion of debt service in each year until 2025. I don’t expect any debt default situation because if debt default happens, I know the consequences. During Tsunami or even the 30-year war, debt never defaulted. We haven’t even defaulted LC. That is the credit record we have maintained,” he said.
He also said the budget deficit will be brought down not only by re-imposing VAT but also with other measures.
“The tax regime we have introduced will not change at least for the next five years. For the next five years, the VAT is 8 per cent and the income tax is whatever the rate we have gazetted. No other tax will be brought in. We need much more efficient, transparent, compliance and a people-friendly tax regime,” he said.Sri Lanka honoured debt settlement in 2020 and will honour in 2021 as well: President’s Secretary
29 Mar 2021
Sri Lanka honoured debt settlement in 2020 and will honour in 2021 as well: President’s Secretary
29 Mar 2021
Dr. P.B Jayasundara, the Secretary to President, said that despite predictions, Sri Lanka honoured all its debt in 2020 and will do so in 2021 as well.
Speaking at a function held yesterday, Dr. Jayasundara said the people asked how the government is managing debt settlement.
“We have USD 4.5 billion of debt service in each year until 2025. I don’t expect any debt default situation because if debt default happens, I know the consequences. During Tsunami or even the 30-year war, debt never defaulted. We haven’t even defaulted LC. That is the credit record we have maintained,” he said.
He also said the budget deficit will be brought down not only by re-imposing VAT but also with other measures.
“The tax regime we have introduced will not change at least for the next five years. For the next five years, the VAT is 8 per cent and the income tax is whatever the rate we have gazetted. No other tax will be brought in. We need much more efficient, transparent, compliance and a people-friendly tax regime,” he said.Kapruka
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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!