Thursday, January 18, 2018 12:32:20 AM

Ranil on his usual track – people burdened with government’s crisis

Photo Gallery1 Photo By Lankatruth.com [Most Reliable News From Sri Lanka] - Wed Mar 09, 3:46 am

Prime Minister Ranil Wickremesinghe making a special statement in Parliament yesterday (8th) said that tax limits that existed until now would be increased due to the financial crisis the yahapalana government is confronted with, a move that burdens the masses still further.

Accordingly, Value Added Tax (VAT) would be increased to 15% and the Capital Gains Tax will be introduced. This tax has not been implemented in Sri Lanka from 1987. The statutory Income Tax has been increased from proposed 15% to 17.5 %. the Prime Minister also said tax concessions given for private education and health sectors would be removed.

Currently, people all over the island suffer from acute financial pressure and the farmer community engaged in cultivation has taken to the streets as they are unable to sell their produce….

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