Tuesday, 09 January 2024 10:01

5000 tax defaulters to be brought into tax net – State Minister Featured

State Minister for Finance Ranjith Siyambalapitiya emphasized that while Sri Lanka has 01 million individuals with the financial capacity to pay income tax, only 500,000 are presently meeting this obligation.

The State Minister stressed the importance of incorporating the remaining 500,000 tax evaders into the tax system, with the goal of decreasing indirect taxes and increasing the direct tax rate, the President’s Media Division (PMD) said in a statement.

State Minister underscored that in developed nations, being a taxpayer is acknowledged as a sign of a robust citizen actively contributing to the nation’s stability. He also expressed optimism that the citizens of this country will undergo a positive shift in attitude, thereby fostering development within the nation.

The State Minister also announced that preparations are underway to commence the implementation of the Tax Identification Number (TIN) number from February 01, it added

 

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