The assistant secretary of the treasury Dr M.M.S Batagoda added at the Excise inspectors and excise officers 22nd annual convention that Sri Lanka is not an insane country to borrow money at will from other countries.
Assistant secretary Batagoda added further saying” that we obtain loans with the approval of the cabinet and there is a limit to borrow which is 7% of the National growth income. We are making efforts to bridge the budget deficit.
The loan O/s loan amount which stood at 105% was brought down to an amount of 80%.The aim is to bring it down to 65%.the deficit in the budget is only 9%.By the year 2020 it is hoped to be brought down to 4.5%
The tax income of the government is Rs 1000 million. It is hoped to be increase to Rs 1100 million. What is collected from the people is not sufficient. Sri lanka is not a country which over taxes the people. The taxes paid by companies have been reduced from 35% to 28%.The taxes need to be charges to pay salaries, pensions and for health services.
Assistant secretary Batagoda added further saying” that we obtain loans with the approval of the cabinet and there is a limit to borrow which is 7% of the National growth income. We are making efforts to bridge the budget deficit.
The loan O/s loan amount which stood at 105% was brought down to an amount of 80%.The aim is to bring it down to 65%.the deficit in the budget is only 9%.By the year 2020 it is hoped to be brought down to 4.5%
The tax income of the government is Rs 1000 million. It is hoped to be increase to Rs 1100 million. What is collected from the people is not sufficient. Sri lanka is not a country which over taxes the people. The taxes paid by companies have been reduced from 35% to 28%.The taxes need to be charges to pay salaries, pensions and for health services.
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