It happened to Sri Lanka because professionals do not pay taxes – Nandalal Weerasinghe
Had the professionals in Sri Lanka properly paid taxes, this kind of crisis would not have arisen in Sri Lanka’s economy, says Dr Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka.
He said this while participating in a programme held on October 1 to celebrate the 135th anniversary of the Sri Lanka Medical Association.
Central Bank Governor said that people pay a lot of tax for the education to produce a doctor in Sri Lanka, but a doctor pays less tax during his profession.
He has said that everyone knows how much tax a professional pays in this country though the amount he has to pay is different. However, if they go to another country like Australia or America, they will have to pay tax on every dollar they earn.
Dr Nandalal Weerasinghe stated that the tax they pay is to a different country, and they should pay at least that tax to Sri Lanka.
He has stated that tax revenue should be increased for those reasons, and there is no dispute about it.
Even so, he has stated that it is a fundamental element that there should be equality in the taxes paid on income.
He has further stated that if everyone, including professionals, paid income tax, the problem Sri Lanka is confronted with would not have arisen today.
Central Bank Governor has said that the main problem facing Sri Lanka is the decrease in tax revenue, so the government is unable to spend on basic needs.
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