The International Monetary Board (IMF) has refuted media reports that suggested it discussed or recommended digital service tax with Sri Lankan government under the current Extended Fund Facility (EFF), the global lender said.
“The IMF has not discussed any plans for a digital services tax with the Sri Lankan authorities in the current program, nor has it provided any recommendation on whether or not Sri Lanka should sign on to the Organisation for Economic Co-operation and Development (OECD)/G20 inclusive framework agreement for international corporate taxation,” an IMF spokesperson said.
Stressing that revenue mobilization is a key pillar of the IMF program with Sri Lanka, the IMF Spokesperson noted as part of the upcoming first review of the EFF program currently scheduled in September, the IMF plans to discuss with the authorities how best to mobilize additional revenues. “This could include considering the benefits and challenges with introducing a digital service tax,”
The IMF will work with the authorities to put in place reforms that are in the best interest of Sri Lanka and its people, the IMF Spokesperson said.
A Sri Lankan man was apprehended at Suvarnabhumi airport for attempting to smuggle wildlife out of the country after three ball pythons were found hidden in his underwear, the Bangkok post reported.
The UK government has unveiled a package of reforms to simplify imports from developing countries which allows for more garments manufactured in Sri Lanka to enter the UK tariff-free.
Read these and more on tomorrow’s edition of the Sunday Times
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