Hirunews Logo
HiruNews
HiruNews
HiruNews
Tax+revenue+should+be+increased+despite+IMF+conditions%3B+A+statement+from+Finance+Ministry
Tuesday, 18 July 2017 - 13:35
Tax revenue should be increased despite IMF conditions; A statement from Finance Ministry
17

Shares
2,139

Views

Secretary to the ministry of Finance Dr. R.S.H. Samaratunga says that the government revenue should be increased regardless of whether or not the IMF imposes conditions.

He said that revenue should be collected through tax amendments and that foreign reserves should also be increased.

Dr. Samaratunga made the statement to our news team while expressing his views about the decision to release the 2nd tranche of  the 1.5 billion US dollar loan to Sri Lanka.

The IMF executive board decided yesterday to release 167.2 million US dollars to Sri Lanka. T

this tranche has been delayed until the country presents its tax reforms.

In a communiqué the IFM, stated that it had considered how Sri Lanka is going to build financial stability through the new Inland Revenue Act.

Dr. Samaratunga said that Sri Lanka has entered into a 3-year agreement with the IMF.

He said that there are certain conditions both parties have pledged to adhere by under this agreement.

The secretary to the ministry of Finance further said that although the IMF is concerned about the new Inland Revenue Act, it is a topical requirement as well.

He said government revenue started dropping over the last 10 to 15 years.

Dr. Samaratunga said that the IMF intervened in the matter, .

However, the IMF release the first tranche of the loan 119.9 million US dollars in the month of June last year.

Make a Comment
Make a Comment

DOWNLOAD HIRUNEWS APP ON ANDROID & APPLE
HiruNews
Thursday, 16 August 2018 - 16:24
Mangroves play a critical role in maintaining the ecological balance in Sri Lanka's coastal areas.However, some money-hungry people do not understand this.Our... Read More
HiruNews
News Image
Hiru News Programme Segments
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
HiruNews
3,342 Views
HiruNews
HiruNews
HiruNews
7,392 Views
HiruNews
HiruNews
HiruNews
8,261 Views
HiruNews
HiruNews
HiruNews
21,265 Views
HiruNews
HiruNews
HiruNews
893 Views
HiruNews
HiruNews
HiruNews
53,060 Views
Top