Central Bank Governor Dr Nandalal Weerasinghe says that in order to get relief in the face of the current economic crisis, adaptation to the current tax policy must be done.
The Governor of the Central Bank stated that the only way at this time is to get the support of the International Monetary Fund and that they are currently in the process of debt restructuring.
The central bank governor stated that the easiest way to increase the existing tax structure is to increase the indirect taxes and accordingly the government had to increase the indirect taxes if the tax policy is implemented for one year, the tax revenue will increase more than expected.
In an interview with Presidential Media Director General Dhanushka Ramanayake, the Central Bank Governor stated that the current 80% indirect tax and 20% income tax should be changed to 60% and 40%.
The correct tax policy is that people who earn more income should contribute more and through that relief should be given to people who have lower income and according to this, if all those who earn more income contribute to this, tax relief can be given to all, Central Bank Governor Dr. Nandalal Weerasinghe additionally mentioned.
