The public must be told what relief they can expect from tax cuts – Vasu
ECONOMYNEXT – The public needs to be informed about the drop in prices of essentials after the tax cuts imposed by the government State Minister of Water Supply Facilities Vasudewa Nanayakkara told Parliament today.
Nanayakkara said that the government had lost Rs 600 million due to the tax concession so the benefits of that should be clearly given to the general public.
However he said no one had made an attempt up to now to show how these tax reductions would affect the prices of products and services.
He blamed the wholesalers for not stating the revised retail prices on the goods after the tax reductions.
“It should be a stated price and not a controlled price,” he added.
He says that at least by March or April, the prices of items should come down because of the the tax reductions.
Nanayakkara also faulted the government service. “Although the government has made the decisions and the general public is expecting relief the mechanism of the government has failed to intervene to take those benefits to the general public,” he said. (Colombo, February 06, 2020)