BUSINESS

Min. Karunanayake speaks of tax revenue at Inland Revenue Commissioners AGM

Staff Writer

Finance Minister Ravi Karunanayake says the government hopes to earn tax revenue of two thousand billion rupees in 2016.

The minister was speaking at the Annual General Meeting of the Inland Revenue Commissioners in Colombo on Monday.

Minister Karunanayake noted that they are hoping to present a unique, radical budget adding that”our revenue has been declining drastically in comparison with our GDP.”

The minister said:

This year it will be 10.8 percent and if this continues, in a few years, they will be unable to pay public sector employees wages and pensions to continue to administer the country.

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