The current regime will run into a serious financial crisis as it has unsuccessful to give legal effect to the taxes planned in the budget to raise revenue for the financial year under review, Ex-External Affairs Minister Gamini Laxman Peiris pointed out yesterday.
Addressing a meeting in Tangalle, Professor G.L. Peiris stated although the government proposed various taxes such as Super Gain Tax, Mansion Levy and all, none of them had been acted out in Parliament in the form of laws to give them any legal effect.
Thus, he stated, these taxes are invalid. “The budget is a fairy tale. The government cannot raise revenue now,” he stated. Explaining on the Treasury bond issue, he stated, for the first time, a person who had rejected loyalty to Sri Lanka, had placed his signature to the currency notes of Sri Lanka. He said this situation had arisen with the appointment of Arjuna Mahendran, a Singaporean, as the Central Bank Governor (CB).
