Sri Lanka trying to pay state salary hike from Jan with tax collections

Sri Lanka
By Editor_1
Sri Lanka is considering compiling a monthly report on how the money collected from taxpayers is spent, Cabinet Spokesman Bandula Gunawardena said on Tuesday (Jan 24) – Reuters/File

COLOMBO – Sri Lanka is trying to pay a state salary hike and pensions from January 2023, by collecting more taxes, State Minister for Finance Ranjith Siyambalapitiya said.

To pay 5,000 rupees of the 10,000 rupee salary hike 6.5 billion rupees a month (about 78 billion rupees a year) is needed and to pay a 2,500 rupee pension hike another 1.8 billion rupees (about 21.6 billion rupees a year) was needed.

A budget proposed paying part of the salaries from April 2023.

At a meeting with President Ranil Wickremesinghe, a request was made to make all efforts to pay the salary hike from January, Siyambalapitiya said.

Strong measures are being taken to collect tax arrears from customs and other agencies and by managing other expenditures, the government will attempt to make the payment, he said.

-economynext.com

 

Editor_1
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