President Holds Meeting with Finance Ministry Officials to Talk About Vehicle Imports, Tax Reforms, and Digitalization
The government’s dedication to maximizing citizen benefits remains steadfast, even in the face of ongoing challenges.
President Anura Kumara Disanayake engaged in a detailed discussion with Ministry of Finance officials today (07) at the Presidential Secretariat. The conversation revolved around issues related to vehicle imports, withholding tax, and the digitalization of VAT collection.
A significant portion of the discussion focused on the hurdles in vehicle imports to Sri Lanka. The President stressed the importance of a balanced approach considering the country’s financial limitations and economic priorities.
He also emphasized the necessity of establishing a refund mechanism for withholding taxes from retirees exempt from income tax.
Furthermore, President Disanayake underscored the urgent need for digitizing VAT collection processes to enhance efficiency and transparency. Plans are underway to implement a comprehensive digital system soon to improve tax compliance and revenue generation.
During the meeting, the President expressed optimism about Sri Lanka’s economic advancement, noting the country’s gradual progress towards recovery and stability. The government’s commitment to maximizing citizen benefits in challenging times was reiterated.
The session was attended by Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma, Secretary to the Ministry of Finance Mahinda Siriwardana, Central Bank Governor Nandalal Weerasinghe, Senior Advisor to the President Duminda Hulangamuwa, and senior officials from the Ministry of Finance.
President Anura Kumara Disanayake emphasized the importance of maximizing benefits for citizens despite challenges during a meeting at the Presidential Secretariat with officials from the Ministry of Finance. Discussions focused on issues such as vehicle imports, withholding tax, and digitalizing VAT collection. The President highlighted the need for a balanced approach to address challenges in vehicle imports and the importance of refunding withholding taxes for retirees. Plans to implement a comprehensive digital system for VAT collection were announced to improve efficiency and transparency. The President expressed optimism about Sri Lanka’s economic progress and reiterated the government’s commitment to citizens’ welfare.
