Gotabaya promises sweeping tax cuts
Posted on October 20th, 2019
Ishara Silva Courtesy Ceylon Today
Sri Lanka Podujana Peramuna (SLPP) Presidential Candidate, Gotabaya Rajapaksa said that under his rule, the existing VAT will be reduced to 8% and taxes imposed on salaries of labourers and middle-class workers will be removed.
He said that the VAT which was previously at 20% has been reduced to 11% by the then Mahinda Rajapaksa Government but this Government increased it to 15%.
Also, steps will be taken to relax taxes on agricultural produce, while removing other taxes such as the telephone tax, he added.
Rajapaksa stressed that under his Government, various taxes that have become a huge problem to businessmen will also be removed and a simple tax system will be implemented.
Addressing the Tea Factory Owners’ Convention held at the Sri Lanka Foundation Institute on 15 October and the public rally held in Balangoda yesterday (16), he made these statements.
Rajapaksa further stated that all these taxes will be properly reviewed and the country’s economy will be strengthened through a simple tax system that won’t be a burden to the public.