By: Isuru Parakrama
Colombo (LNW): The foreign exchange crisis leading to the decline of imports and subsequently the decline of income via customs duty has stemmed the increase of taxes, hence the problems with the current tax system, said MP Dhammika Perera, speaking to reporters after the opening ceremony of the “DP Coding School and Robotics Campus” at Sri Sumangala Piriven in Middeniya yesterday (14).
“Why is there a situation with Sri Lanka’s tax system? With the dollar shortage, the imports have dropped. Subsequent to the decline of imports, income by customs duty has also dropped. Taxes have increase to cover the lost income. This is the main reason. The prime concern is the shortage of dollars, isn’t it? So far, there is no programme evident to recover dollar,” he said.