Tax Revenue Up After Slashing Import Duties
The Finance and Planning Ministry has stated that it has recorded an increase in its tax revenue following the government’s decision to slash import duties on vehicles.
Director-General for Fiscal Policy of the Finance and Planning Ministry S.R. Attygalle has said the government earned Rs. 1,700 million in July on vehicle import tax revenue alone after import taxes were slashed in June.
The Government Information Department has stated that it is an increase of around 240 percent compared to only about Rs. 500 million in May, the pre-tax cut period.
One of the objectives of reducing import tax was to raise tax revenue from vehicle imports.
The Finance Ministry expects tax revenue from vehicle imports would further increase in August.
Atygalle has explained that vehicle prices would come down further in the coming months, and their aim is to make it easier for people to acquire vehicles as economic activity revives with the end of the war.
Why not try slashing petroleum duty, potato duty, etc etc to see if this too will increase revenue
Why not reduce taxes that safeguard our poor people? What about farmers, what about labourers? You earn millions of revenue by sending billions of money out of the country. What bloody fools are you? Who do you think you are trying to fool?
Don’t forget that you earn that revenue by just sending billions of hard earned money mainly sent by our mothers and sisters working in the Middle east as laborours amidst millions of hardships.
These rulers will sell even their parents if they get a good price. What bloody idiots do we have as rulers?
Hiran
You just can’t blame the government for everything that is happening in the country. At the same time the government can’t be credited with everything the country achieves.
The government is trying its best to cater for everyone. You just have to be patient and be mindful of the fact that it s a democratic government, and it takes time.
Shane, first para of your statement is somewhat correct.
but the second para is plain bullshit. Be patient—— how long ? This is the second term of the govt, what strategy do they have to gain capital, see the economic indexes , where the hell are we, where are we heading towards ?
From worst to disaster ! Collecting taxes can be done by any dumb govt. But earn money by foreign trade, long term strategic plans , visible growth in economy are the factors you have to look at. ( not rubbish publish by our central bank ) Where is our export market ? other than few exporters.
Like Hiran said, foreign income from middle east and other migrant Sri Lankans is the second largest income of the country, and what we do? happly spend that money to pay back high interest of foreign bank loans taken by the govt, Duty free cars for palath saba, MPs and ministers every term, do they really deserve these luxury. ( like V6, 3000cc or higher)
Forget the cars, talk abot the rest, any govt or party should not do blunders with economy of the country despite the colour, or person.
Why do blunders —The reason is lack of professional qualifications, experience . education, familiy back ground, the college they had been to etc
The rulers must be effective managers with a vision towards the development of the country not any other vision !
so this shows taxes are only for the benefit of the rich, why not bring down the cost of essentials, howmany poor people are suffering, and imagine the volume of sales increases, if you lower the prices by way of reducing and/or removing taxes
There is no better way than producing everything we need here in Sri Lanka. If we do that in the long term, everybody can own a car if that is what everybody likes to have.
Making the rich class spend like idiots while the others are being exploited would make Sri Lanka a country with a present. But a country certainly without a future.
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Its all cheated, this policy only made for benefiting riches, there wont any price reduction in secondhand market. due to this policy i have sold my van at low price. but now i cannot buy that vechile even same price, why