Increasing tax revenue is healthy to Sri Lanka states the IMF…

According to the IMF Mission in Sri Lanka, initiatives to raise tax revenues should be conducted in a way that promotes growth while safeguarding the poor and most vulnerable.

Masahiro Nozaki, the Mission Chief for Sri Lanka, and Senior Mission Chief Peter Breuer both emphasized the significance of those with the greatest financial means contributing proportionately to the financing of the necessary public expenditures.

According to the statement, the tax package that the authorities have put in place, which includes the new tax rate schedule for the personal income tax, aids in the achievement of these goals.

The tax rates recommended under the authorities’ proposal, according to Peter Breuer, Senior Mission Chief for Sri Lanka, and Masahiro Nozaki, Mission Chief for Sri Lanka, are in line