President Anura Dissanayake revealed plans to modify Sri Lanka’s income tax policies in the upcoming budget, aiming for a more equitable structure that takes into account the financial challenges faced by citizens. He explained that his administration is in active discussions with the International Monetary Fund (IMF) to determine the final figures for tax adjustments, underscoring the IMF’s influential role in shaping these fiscal reforms.
During an appearance on the 360 program on Derana Channel, Dissanayake addressed the public’s concern over high tax rates and signaled that forthcoming changes would aim to meet their expectations for relief. Although Hilayu, the government’s economic representative, was initially expected to announce the exact figures, the President stated that ongoing talks with the IMF prevent any premature disclosures.
President Dissanayake further mentioned that the budget would include relief measures intended to support the economy without undermining fiscal stability. He also hinted at additional relief provisions to be introduced in a second budget document, potentially reflecting broader support initiatives aimed at stabilizing the economy while responding to citizen needs.
The planned revisions come amid a challenging economic climate in Sri Lanka, where citizens and businesses alike have been impacted by elevated tax burdens and rising living costs. The President’s announcement reflects a balancing act between meeting IMF requirements for economic stability and addressing public calls for financial relief.
