Gotabhaya says will introduce new tax policy

Presidential candidate Gotabhaya Rajapaksa today (Oct 17) said he would introduce a new tax policy, slashing Value Added Taxes (VAT)'s and removing certain taxes, if he wins the November 16 vote.

“We will remove all taxes concerning agriculture,” the Sri Lanka Podujana Peramuna (SLPP) candidate told supporters at a rally in Kuliyapitiya.

Rajapaksa said that his new tax policy has been compiled with the advice of local economic experts, and would be kept “simple”.

“The VAT (imposed on imported goods) will be reduced upto eight percent,” he declared pointing out that it stands at 15 percent under the current government.

The Presidential candidate stressed that tax concessions would be granted to encourage investments of local businessmen.

“Our entrepreneurs are currently investing in businesses overseas,” Rajapaksa observed emphasising that stability is required to improve the country’s economy.

He said that his economic policy would aim towards protecting local investors over drawing foreign investors to the country.

Rajapaksa eyed a possibility of uplifting Sri Lanka’s economy by improving its “human resources”, as the Asian region is developing into an economic hub.

“We need to protect our future generation to do so,” he insisted adding that his government would increase budgetary allocations of the education sector.

The SLPP candidate stressed that students would be granted more opportunities to pursue university education, and follow vocational training courses – a move, he said, could create new jobs.