Sri Lanka should stop taxes on Transactions if it seriously wants to boost the economy. Transactions tax is hurting and pushing economy down. Taxes should be simple One should be corporate tax, VAT, Income Tax. All tobacco tax, alcohol tax etc should be taxed via VAT on variable highest rate of 1000%. The stamp duty should be removed replaced with fees instead, that is why there are not many real estate transactions taking place similar to middle east. The Withholding tax should be completely removed from all forms since it taxes all those who are not under income tax brackets.
It does not matter if government has budget deficit. People are already taxed from Mouth and Ass. Sell Sri Lankan airlines, CEB, Ceypetco, etc. People should not pay from their tax money for the stupid corporations.
They are making losses even though people are paying higher rates, where as government ,religious institutions, municipal councils road lights,hospitals, education institutions, factories are paying lower rate. There should be flat rate. House hold users should not be charged higher rate than the rest of profit making business.
It does not matter if government has budget deficit. People are already taxed from Mouth and Ass. Sell Sri Lankan airlines, CEB, Ceypetco, etc. People should not pay from their tax money for the stupid corporations.
They are making losses even though people are paying higher rates, where as government ,religious institutions, municipal councils road lights,hospitals, education institutions, factories are paying lower rate. There should be flat rate. House hold users should not be charged higher rate than the rest of profit making business.
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