COLOMBO: Sri Lanka’s President Maithripala Sirisena said that his government would take gradual steps to broaden revenue collection without levying any burden on lowest bracket of the taxable income earners.
Speaking with the delegation of International Monetary Fund (IMF) at his residence in Colombo Friday, the President said that it is essential to make the people, especially the small and medium trade and businesses, aware about the need for widening the tax base as a very small segment of income earners pay taxes now. He urged the IMF to provide necessary technical support for tax awareness programs.
The IMF Mission Chief Todd Schneider said that the global lender would continue to extend support to Sri Lanka to improve monetary and financial discipline. He expressed fullest satisfaction over the steps taken by the government to strengthen democracy, human rights and reconciliation. Mr Schneider said the IMF’s three year old Structural Adjustment Programme worth US$ 1.5 billion progressing very satisfactorily.
President Sirisena explained that while the government is determined to get Sri Lanka out of the current economic difficulties. Despite opposition campaigns, the government is very strong and stable, he assured the IMF delegation.
The delegation included New Mission Chief for Sri Lanka at IMF Headquarters, Jae Woo Lee, Economist Masahiro Nozaki and Resident Representative Eltri Kvintradze.
