By issuing a press statement Mahinda Rajapakshe has requested all the SLFP Ministers and the Members of Parliament to vote against the Inland Revenue bill to be introduced in the parliament on the 25 th August 2017. He said the draft bill included clauses detrimental to the policies of the SLFP. Further, it has provisions to remove tax exemption given to religious organizations and voluntary organizations and impose 14 % tax. Another danger is current 12% tax imposed on small and middle status entrepreneurs will be increased to 14% Benefits granted in Inland Revenue Act 10 of 2006 will be taken away by this news Act. Hence, all the SLFP Ministers and members of parliament should get together and vote against it. While replying to a question by a journalist, he claimed that still he is the leader of the SLFP.
In the meantime, Minister of Finance and Media Mangala Samaraweera in a press brief held in the Finance Ministry last evening said, the purpose of this new act is to ease the indirect tax burden on the ordinary people. At present 20% direct tax and 80 % indirect tax are imposed. Under the new Act the new
ratio will be 40% direct tax and 60 % indirect tax. He said new Inland Revenue bill included all necessary amendments recommended by the Supreme Court plus 111 other amendments. This new Inland Revenue Bill, which is beneficial to the public, will be passed with a majority in Parliament on Friday 25 th , he concluded.
