It has been revealed at the Sectoral Oversight Committee on National Economic and Physical Plans that although there are personal income tax files exceeding 2,92,000 in this country, only 31,000 of them are paying tax.
There are 105,000 registered limited companies in the country, but 82% of the tax revenue is received from only 382 companies, the committee has revealed.
Committee chair Parliamentarian Mahindananda Aluthgamage also emphasised that it is important to maintain the inflation, the reserves of the country, and the government’s income in an optimal condition by December, by the time of the second review of the International Monetary Fund, given that the said factors must be taken into account when granting loans.
He said that the committee will hold regular discussions with Sri Lanka Customs, the Excise Department, and the Inland Revenue Department to provide the necessary facilities to increase state revenue.
