Semasinghe to emphasise the need for a taxation policy…..

Shehan Semasinghe, the state minister of finance, has emphasized the need for a progressive taxation policy, emphasizing that its execution is crucial to ensuring that the weight of financing does not fall disproportionately on the weak and disadvantaged.

Semasinghe delivered this speech yesterday (19 April) at the UNDP’s Tax for SDGs Initiative, titled “SDGs and Taxation: Lessons Learned and Best Practices from the Ground.”

He added that initiatives to lower government operating costs and improve the accountability of the allocation of public funds are crucial. He also stressed the importance of improving government revenue and expenditure restraint as a complement to efforts made toward fiscal consolidation.