Monday, 10 June 2024 15:40

Sri Lanka Government advances tax revenue reforms Featured

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State Minister of Finance Ranjith Siyambalapitiya last week announced that the Government is progressively implementing measures to develop and regularise tax revenue collection through its various revenue departments.

Speaking during the Parliamentary debate on the Public Debt Management Act last Friday, Siyambalapitiya highlighted the role of the Parliamentary Committee on Ways and Means in overseeing the country’s financial affairs.

“This committee is tasked with addressing issues related to taxation, duties, and other Government levies, and proposing appropriate methods to the Finance, Economic Stabilisation and National Policy Ministry,” he added.

He mentioned that while the department is working within the existing legal framework, efforts are underway to amend laws to better reflect current needs and remove any legal obstacles hindering efficient tax collection.

 

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