Minister of State for Finance Shehan Semasinghe says that there is no preparation to raise the government’s income by raising tax rates in the coming year.
The minister pointed out that the government’s expectation is only to expand the tax network and include the people who can pay taxes.
For that, he has emphasized that this country’s taxation system should be digitized.
He also said that the 2024 budget has allocated proposals.
Therefore, the state minister further states that the rumors that the VAT rate will be increased to 24% are false.