President’s Secretary Dr. Nandika Sanath Kumanayake said Sri Lanka’s pay-as-you-earn tax was excessively high and should be reduced, as it placed the greatest burden on the lower-middle class.
He made the remarks while addressing the 21st Annual General Meeting of the Inland Revenue Commissioners’ Association in Colombo.
“Targets cannot be achieved merely by setting them. The necessary environment must also be created,” he said.
Kumanayake stressed the need for a clear understanding of the practices and modern methods adopted by other countries, warning that Sri Lanka risked falling behind unless it kept pace with global developments.
“When that happens, institutions such as the IMF and the World Bank come before us and exert pressure. Sri Lanka’s Inland Revenue Department must reach the standards maintained by revenue authorities in other countries,” he said.
