New taxation policy to be introduced

A new taxation policy will be introduced to the Parliament in order to provide stability for businesses within the country, State Minister of Finance Eran Wickramaratne said.

The State Minister stated this upon attending a media briefing at the headquarters of the United National Party (UNP), ‘Sirikotha Mandiraya’ today (19).

He stated that the new bill would most likely be passed within the course of the next two months, after which, the Government would be able to implement the new tax policy.

Different communities have different tax policies, where unanimous consent is not a requirement for their implementation, the State Minister said.

He proceeded to add that the Government did not have the capability to continue to fund state institutions that were incurring losses in an attempt to revive them, and that under the new programme, co-operation between state and private institutions would be enabled, as well as the involvement of the Stock Exchange.