G.L. proposes practical alternative to increasing income tax rates

Tuesday, 8 November 2022 00:00 - - {{hitsCtrl.values.hits}}

Claims people will not have any respite after next week due to excessive tax burden
Proposes Govt. investigate frauds reported in media and recover stolen funds
Suggests Govt. take assistance from local and international agencies to recover stolen public monies
Notes such recovery would allow Govt. to not burden people with tax hike

Prof. G.L. Peiris

Prof. G.L. Peiris is proposing the Government investigate accusations of major fraud and corruption as an alternative to increasing the income tax burden on the people.

“Next week, the Parliament will take up amendments to the Inland Revenue Act as well as the budget for 2023. Following this, it is clear the people will have no respite or relief due to the excessive tax burden. The people are being killed while still alive,” he said.

Addressing a press conference at the ‘Nidahasa Jathika Sabhawa’ head office yesterday, Peiris said the Government has continuously requested the opposition and others to present alternative proposals to increase Government revenue in the current economic crisis.

“They have said they are willing to accept such proposals and implement them. I would like to affirm that there are practical proposals as requested,” he noted. According to Peiris, in reality there is no need for excessive taxes to be levied on the people.

Peiris pointed out a series of reports by the media over fraud and corruption in various institutions relating to Government deals such as the recent purchase of coal and construction of the New Kelani bridge connection to Athurugiriya.

“These are not accusations by us. But these are not random allegations. These are being reported by leading newspapers in the country as leading news reports,” he noted.

“The Government cannot ignore these accusations. They must carry out an impartial investigation into these allegations and not attempt to whitewash them. The investigation will have to elicit the trust of the public. They must find out if these allegations have any basis. If there is any truth to these claims, then it must be checked if public funds have been stolen,” he said.

According to Peiris, if it is revealed that funds have been misappropriated, the Government must then take immediate steps to recover the funds for the benefit of the people. “This is the practical alternative. This is not short-change. These are millions and billions belonging to the public that has been squandered. If they are recovered there will be no need to burden the public with taxes,” he said.

“If the Government has a genuine interest to do this there are many local and international agencies such as the Star agency that can assist them in doing this. We request the Government to consider these proposals seriously,” he added.