Announcing the Presidential Election manifesto, Gotabhaya Rajapaksa says the tax will be abolished on the salaries of public and private sector employees.
According to the ten-point policy, national security is given priority and friendly and non-aligned foreign policy, clean governance, constitutional reform for the people, effective citizen, fertile human resource, people-centered economy, technology-based society, physical resource development, sustainable environmental management, A disciplined legal society and a quality society The point of renovation has been given priority.
Addressing the gathering, Presidential candidate Gotabhaya Rajapaksa explained his vision.
“The local business community is expected to play a major role in rebuilding this collapsed economy. We want to create an environment where these businesses can do business.
Updating outdated rules that have hampered business. The masses are burdened with heavy taxes. This affects the productivity of businesses and people.
As such, we hope to amend the current Income Tax Act that does not suit the country and reduce the burden on the people.
The income tax on manufacturing will be reduced. Economic Service Charges and Withholding Tax will be abolished. We will reduce VAT to 8 percent.
We also abolish the various taxes imposed on religious places.
Instead of the various taxes imposed on vehicles, we introduce one simple tax system.
In addition, we will abolish the payee tax on salaries of public and private sector employees.
Along with this, we are also working to streamline the use of technology in the Income Tax Department, Customs and Excise Department.
We look forward to a great growth in the service economy in our future development plans. ”