President Anura Kumara Dissanayake stated that the government intends to reduce Value Added Tax (VAT) rates over the next two to three years as part of an effort to alleviate the tax burden placed on the public.
He made these remarks while addressing a ceremony held at Temple Trees to award appointment letters to 1,540 newly recruited Grama Niladharis. Stating that the government is working to provide greater relief to the public while managing rising state expenditure, the President pointed out that it is inappropriate for children to bear a tax burden when purchasing books for their education. Accordingly, he emphasized the need to remove taxes imposed on essential educational materials. He noted that the decision to increase public sector basic salaries in three phases would result in an additional expenditure of Rs. 330 billion by 2027.
The President also mentioned that these financial obligations must be taken into account when preparing the upcoming national budget, scheduled to be presented on November 12.