Explaining the Government’s tax income position, Minister stated the increasing taxes is a temporary measure taken to resurrect the fallen economy under Rajapaksa regime.

During the 2015, the government expected Rs.1,293 billion from tax revenue and Rs.162 billion from non-tax revenue. However, the target fell short where actual income from tax revenue in 2015 stood Rs.1,282, billion and income from non-tax revenue reported Rs.125 billion.

Explaining the Parliament on tax targets set for 2016, Minister Karunanayake said: “Rs.1,886 billion in year 2016 is relatively realistic in comparison to the income of the year 2015 due to measures taken with the purpose of strengthen the Government revenue by simplify the existing tax system, broaden the tax base, introducing new tax proposals, increase the efficiency in tax administration by introducing new technology for main revenue collecting authorities and strengthening the public enterprises.” AH