Samagi Jana Balawegaya (SJB) MP Dr. Rajitha Senaratne told Daily News yesterday (9) emphasised that the method of taxing business turnover is not a new concept and is currently in practice not only in Sri Lanka but globally.
Dr. Senaratne responding to the proposed tax policy of MP Anura Kumara Dissanayake under a National People’s Power (NPP) government warned that the economic strategies proposed by Dissanayake could endanger the tax incentives currently offered to businesses that contribute significantly to the nation’s economy.
He argued that turnover taxes are universally applied and no country operates without them. He further criticised the potential repercussions of Dissanayake’s economic policies over businesses. He raised concerns about Dissanayake being skeptic of the credibility of economic data from the Central Bank, stating that these figures are also verified by permanent representatives of the International Monetary Fund who work alongside the Central Bank.
Dr.Senaratne expressed his astonishment at the claims made by Dissanayake’s team, particularly about inflation, which they report has not seen a decrease in prices.
He countered by explaining that inflation pertains to the reduction in the increase of cost of goods and accused Dissanayake of misleading the public with unreliable data. He concluded by questioning the competence and knowledge of Anura Kumara Dissanayake and his economic advisors, stressing that their understanding of economic principles appears flawed.
