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| Monday, 17 May 2004 |
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Income tax collected in Lanka, lowest in the region - Ministry Secretary by Shirajiv Sirimane The income tax collected in Sri Lanka is one of the lowest in the region as it is around 4 percent of the GDP. Secretary, Ministry of Finance, P.B. Jayasundara told a delegation of business leaders at the Ministry recently that this must change. He said that there are many taxes including VAT which have irked the public which were introduced by the former government. He identified debit tax and the port levy as some of these uncalled for taxes. "However, the government will need more time to remove these taxes," he said. He said that the government would not go on a reckless spending spree but on a well planned and productive development program. The government has identified that the country needs express ways and more power plants. He said that during the last two years foreigners have come to Sri Lanka borrowed from Sri Lanka and have made investments. The country needs direct large scale foreign investments. Vice President of the Federation of Chamber of Commence and Industry Nawaz Rajabdeen said that there are over 2,000 foreign employment opportunities available every week according to newspaper advertisements. However, all these vacancies are not filled since Sri Lankans do not have the necessary qualifications. He said that the government should concentrate on vocational training as some of the training schools have been shut. Former Chamber President Lal De Mel said that the government must put a stop to unfair imports and safeguard local industrialists. An official of the National Agri Business Council said that some vegetables harvested in Dambulla and Kekirawa perish due to poor transport and bad roads. He suggested an extended rail track to this areas linking the Mahaweli settlement zone as well. Nearly Rs. 10 million was invested a few years ago to purchase 10 mobile soil testing vehicles. "However, these vehicles are now not being utilised and the farmers do not have access to government testing facilities," he said. He said that Sri Lanka was self sufficient in dry chilies a few years ago. However, Sri Lanka imported chillies worth Rs. 1.2 billion last year. "This is because Sri Lanka did not have access to new plantation methods," he said. An official of the construction industry said that a policy on construction is needed. A Chamber representative from Ampara said that the government must re- open the sugar factories that were closed down. There will be a big supply of sugar cane soon," he said. He said that the government has not tapped the potential to produce electricity from sugar cane waste and this should be pursued. |
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