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Sri Lanka to suspend one off, retrospective taxes: PM

ECONOMYNEXT – Sri Lanka will suspend one-off and retrospective taxes introduced during an interim budget in 2015, Prime Minister Ranil Wicrkramasinghe said.

"One off taxes that were subject to controversy to be suspended, (vivardayater luckwoo, ekwarak pamanak aya karana badoo athhitoowanawar)" he said.

"Retrospective taxes that undermined business confidence to be suspended (vyaparer vishwasaneeyathwaya doobaler kireemeter hethuwaner atheethayater balaparner badhoo athhituweemer."

The ‘super gains tax’ was no longer needed because general consumption has now started, Wickramasinghe told parliament.  The tax was supposed to have been paid in several instalments.

(Colombo/Nov05/2015)

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