President seeks JVP support and promises VAT review
President Ranil Wickremesinghe sought the support of the Janatha Vimukthi Peramuna (JVP) and also assured a review of the VAT, while speaking in Parliament, Wednesday.
The President noted that the JVP had worked with the Government when he was Prime Minister in 2015.
He said that if the JVP could work with the 2015 ‘Good Governance’ Government there was no reason why they can’t work together even now.
“During the period of ‘Good Governance’, the Janatha Vimukthi Peramuna cooperated closely with us. Mr. Ananda Wijepala lead the Anti-Corruption Office, a position for which he maintains pertinent records to this day. So, why can’t the JVP join forces for the betterment of our nation? Although we may compete in elections separately, let us collaborate in nation-building endeavours. I extend my invitation once more to embrace a shared vision and common purpose for our country. Let us initiate change within ourselves, fostering unity and enlightenment. Together, let us create a new political ethos, dedicated not to personal ambitions but to the collective aspirations of our nation,” the President said while delivering the Government policy in Parliament, Wednesday.
The fifth session of the 9th Parliament was ceremonially declared open, Wednesday, by President Ranil Wickremesinghe.
Speaking in Parliament the President said that VAT poses a burden for many, and the Government is not oblivious to this fact.
“We are systematically addressing this issue. In 2022, there were 437,547 registered tax payers, a number that surged to 1,000,029 by the end of 2023—an impressive 130 per cent increase. As the tax network expands, the burden on individuals and organizations will diminish,” he said.
The President assured that the Government will look to alleviate the tax burden as the economy stabilizes, adding that there is also room for a potential revision of the VAT percentage.
He also said that the domestic debt restructuring plan has been successfully executed as the first step, and a policy agreement for restructuring has been reached with foreign creditors as the second step. The President said negotiations with private creditors are presently in progress. (Colombo Gazette)
