Rs. 695 bln supplementary estimate to be presented in parliament

News

Sri Lanka’s new administration is set to present a Rs. 695 billion supplementary estimate with amendments to five tax acts in parliament to boost the revenue.

The Cabinet of Ministers has approved a proposal by Prime Minister and Finance Minister Ranil Wickremesinghe to amend five tax revenue acts to increase public revenue.

The five are - Inland Revenue Act, VAT Act, Telecommunication Levy Act, Betting & Gaming Levy Act and Fiscal Management Act.

The move is in line with the new interim government's aim of increasing public revenue to meet essential expenditure averting an economic crisis, Finance Ministry sources said.

The Government has announced an alternative relief budget as an interim measure. (Bandula)

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