Govt. to introduce new tax regime

The cabinet has given the green light to revise the tax policy, policy actions and introduce a new tax regime amending 54 tax related Acts for an accelerated economic revival in the post Covid 19 situation, co cabinet spokesman and Minister Udaya Gammanpila said yesterday.

Addressing the weekly cabinet news briefing, Minister Gammanpila stressed that the government’s target was to improve the living standard of most vulnerable groups of the society in the aftermath of the Covid 19 pandemic.

“To meet these goals, we will have to double export revenue, kick start the tourist industry and revive the construction industry, grow all food varieties, spices, fruits and vegetable and restrict imports of them. The new tax regime expected to strengthen this process,” Minister Gammanpila stressed.

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