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IMF Talk Tough & Good, But no Conditions about Waste and Corruption, Equality of Taxes, Too Bod Govt Sector etc, which can save 10% of Budget Annually

SL needs cuts in tax exemptions: IMF :::DailyFT - Be Empowered: “Tax collection in Sri Lanka has steadily declined over the past decade and revenue kept falling behind targets. Tax exemptions, rate reductions, tax holidays; special provisions are exceptionally high in Sri Lanka. For example, income tax contains many special concessions for particular tax payers that number around 200, which makes income tax inefficient, and inequitable in raising revenue,” she pointed out.

An analysis done in 2012 and 2013 on corporate returns found that tax revenue has multiple exemptions, which is equivalent to around 1.3% of GDP that actually exceeds the corporate tax collection by about 30%.�
IMF Talk Tough & Good, But no Conditions about Waste and Corruption, Equality of Taxes, Too Bod Govt Sector etc, which can save 10% of Budget Annually SocialTwist Tell-a-Friend

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