INSUBCONTINENT EXCLUSIVE:
Deputy Minister of Industries and Entrepreneurship Chathuranga Abeysinghe states that there is no possibility of reducing taxes within this
year, as the government is required to collect 15.1% of the Gross Domestic Product (GDP) in taxes in accordance with agreements reached with
We cannot expect a tax reduction this year
It is necessary to collect the required amount of taxes amounting to 15.1% of GDP, as stipulated by the IMF
However, once we emerge from this process and revenue collection efficiency improves, it will be possible to extend concessions to products
outline these initiatives
The government intends to offer the necessary facilities and support to industries, aiming to create a conducive environment for industrial
Under this policy, we aim to reduce or eliminate taxes on production inputs
Every industrialist now has a clear understanding of the imported inputs required for their production processes
low prices without paying the necessary taxes, sometimes with manipulated invoice values
he added.He further clarified that tax policies may vary across industries, but an overall reduction in taxes cannot be expected in the
