CA Sri Lanka submits sweeping proposals for Budget 2027 | Daily FT
CA Sri Lanka has submitted comprehensive proposals for the National Budget 2027, advocating for a shift from relying on tax rate hikes to a strategy focused on compliance-led revenue growth and digital transformation. The proposals aim to strengthen Sri Lanka's fiscal position by modernizing tax administration, improving voluntary compliance, and fostering an environment conducive to investment and sustainable economic growth. Key recommendations include revising the Advance Personal Income Tax threshold, establishing an integrated data ecosystem (NTIN, UBIN) to connect taxpayer information, and implementing AI-assisted compliance risk management.
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How the story developed
- සිPresident Dissanayake proposed a digital transformation authority, an AI center, and student broadband internet vouchers.
- සිPresident Dissanayake allocated 200 million rupees for a Katunayake Airport flyover to support re-exportation centers.
- தHarsha de Silva criticized the budget for lacking structural change and maintaining previous expenditure levels.
- සිOpposition Leader Sajith Premadasa accused the government of concealing economic data and manipulating budget figures.
