'2013 positive year, $ 1.5 b FDIs expected'
The Government needs tax revenue and self compliance is encouraged
where a simplified tax regime is implemented in the country at present.
“We need revenue and
|
PB Jayasundera |
measures will be taken to facilitate processors to
generate revenue. There is a modest growth in government revenue and a
revenue service centre will be set up at the Inland Revenue Department
as a one-stop-shop to provide an efficient service to the public,”
Treasury Secretary Dr. P.B. Jayasundera said.
The 15 Inland Revenue branches will be converted to centres of
providing decent and credible information as a professional service to
educate the public to enhance the tax payer base, he said. Emphasising
that Sri Lanka is considered as a low tax regime, the Treasury Secretary
said that voluntary compliance is promoted among potential tax payers
and the current tax system is organised and simple.
“The system will become more buoyant and affordable and the there
will be no changes in policy direction. With further consolidation
taking place. Corrective measures have addressed the imbalances in the
economy,” he said.
“We consider 2013 to be a positive year and $ 1.5 b FDIs are expected
during the year. It is important to ensure credibility in the investment
pipeline and $ one b from international lending institutions is expected
to reduce domestic borrowings, as stated in the Budget.
We are optimistic that the targets could be met during the year and
it is possible to maintain economic stability.
With favourable weather conditions, globaal recovery, China and India
back on track, Sri Lanka could expect improved performance during the
year, Dr. Jayasundera said. |
