Sri Lankan Prime Minister Ranil Wickremesinghe has assured that the proposed increase in the Value Added Tax (VAT) would not be a burden on low income earners.
The Prime Minister, who met with a group of United National Party (UNP) Parliamentarians at the Temple Trees on Wednesday, said the government would not allow taxes to be a burden on low income families, reports Lanka Page.
He told the MPs that the previous Rajapaksa regime had given tax concessions to a few rich people, while heavily burdening the masses.
Wickremesinghe added that a decision to increase the VAT had to be taken because of the heavy loans taken by the previous regime.
The Prime Minister said that he would brief the UNP MPs and ministers soon on the present economic situation and the tax reforms proposed to increase the government revenues as well as future plans.
He also discussed the preparations for the upcoming UNP May Day rally to be held at the Campbell Park in Colombo.