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2024 budget based on IMF proposals; new taxes in the offing: NPP
Claiming that the 2024 budget will be totally based on IMF proposals, NPP MP Vijitha Herath said today that the government is planning to impose new taxes such as Wealth Tax and Heritage Tax from January, 2024.
Addressing the NPP Pathadumbara electoral convention, he said it was customary for the Finance Ministry Secretary to publish a newspaper advertisement calling for public proposals for the budget and that surprisingly, no such practice has been adopted this year.
He said the budget for 2024 will be based on IMF proposals just as the electricity bill was increased after the IMF condition to issue the second tranche of the IMF Extended Fund Facility.
"The electricity tariffs were increased again recently as the IMF wanted the CEB to earn Rs. 30 billion more," he said.
The MP said the IMF has requested the government to introduce new taxes through the 2024 budget to increase state revenue from the current 9 percent to 12 percent.
“The government is now planning to impose new taxes. A Wealth Tax and Heritage Tax are to be introduced from January 2024. Income tax files too have been proposed to be opened for everyone above 18 years from January next year,” he said.(Ajith Siriwardana)
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