State Minister of Finance, Ranjith Siyambalapitiya, clarified the government's stance on taxation policies, assuring that there are no plans to introduce new indirect taxes that could further inflate the prices of goods.
He revealed this in a recent statement to the media in Kegalle on Monday.
Siyambalapitiya emphasized the government's commitment to stabilizing the current tax percentages and concentrating efforts on augmenting state revenue without burdening the populace with additional financial constraints. He underscored that any potential fluctuations in the cost of goods would primarily be influenced by market dynamics such as demand and supply, rather than through tax hikes.
"We are striving to enhance state revenue while simultaneously reducing the reliance on indirect taxes to alleviate the financial strain on citizens," Siyambalapitiya affirmed.
Highlighting future fiscal plans, the State Minister disclosed the government's intention to introduce a new property tax in 2025. He clarified that this measure aligns with recommendations from the International Monetary Fund (IMF) and is envisioned as a progressive tax aimed at individuals possessing substantial property assets.
Siyambalapitiya assured that the proposed property tax would primarily target those with extensive property holdings, reflecting a strategic approach to fiscal policy that seeks to ensure fairness and equity in tax burdens.
