Central Bank Governor W. D. Lakshman today said that the revenue shortfall of the Government's recent tax cuts is expected to be largely offset by action taken to eliminate unproductive current expenditures and to prioritize current expenditures.
Governor Lakshman was delivering the Central Bank roadmap for 2020, today(6).
The Governor added that the recent tax reform initiatives constitute a much needed transformation of the country's tax system toward greater simplicity.
He further noted that the tax relief measures are expected to stimulate the economy while actively contributing to improve business confidence.
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.
Rajapaksa’s policy statement delivered last week did not entail a comprehensive machanism to offset the expected revenue short fall from the tax cuts.
Picture- Eshan Dasanayaka
Unproductive expenditures to be slashed: CBSL Governor
06 Jan 2020
Unproductive expenditures to be slashed: CBSL Governor
06 Jan 2020
Central Bank Governor W. D. Lakshman today said that the revenue shortfall of the Government's recent tax cuts is expected to be largely offset by action taken to eliminate unproductive current expenditures and to prioritize current expenditures.
Governor Lakshman was delivering the Central Bank roadmap for 2020, today(6).
The Governor added that the recent tax reform initiatives constitute a much needed transformation of the country's tax system toward greater simplicity.
He further noted that the tax relief measures are expected to stimulate the economy while actively contributing to improve business confidence.
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.
Rajapaksa’s policy statement delivered last week did not entail a comprehensive machanism to offset the expected revenue short fall from the tax cuts.
Picture- Eshan Dasanayaka
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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!