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Proposals made to simplify the tax structure

Oct 27, 2010 10:28:04 AM - itnnews.lk

The Report of the Presidential Commission on Taxation has several proposals to simplify the tax structure and minimize problems of tax payers.

President Rajapaksa appointed the 10 member Commission last year to study the country’s tax system and make recommendations to increase the revenue. The Report of the Commission headed by Prof. W. D. Lakshman handed over the final report to the President at Temple Trees yesterday. The President had outlined a series of measures of the current statute that needs scrutiny and examination. The Commission has been requested to cover all areas outlined by the President to improve the tax system in the country sans placing burdens on the people. The Commission covered wide areas with regard to the taxation system in the country and has suggested measures to halt frequent changes to taxation. The Commission has also made proposals on the use of Information Technology in the process of levying and facilitating the payment of taxes.