Minister of State for Finance, Dr. Ranjith Siyambalapitiya, states that opening a tax file should be mandatory for all those entering politics, and it will be initiated upon accepting nominations for local government elections.
The minister emphasizes that, in addition to this, ministerial staff members will also be required to start tax files. He made these remarks while speaking to the media after a ceremony held in the Ruwanwella area.
A recently issued circular by the Inland Revenue Department mandates the opening of files for 14 categories expected to be taxable. It is also emphasized that opening a tax file does not imply the obligation to pay taxes.
The minister mentioned that the ratio of indirect to direct tax, which was 80% to 20% when the government came to power, has now been adjusted to 70% to 30%. He further stated that by the end of this year, the ratio is expected to reach 60% to 40%. This is the government’s objective. – Media unit