The International Monetary Fund is becoming a problem rather than a solution to Sri Lanka’s economic crisis, says Dr. Nishanda Mel, Executive Director of Verity Research Institute. Sri Lanka Latest News
He has presented this criticism based on the tax imposed on rental houses recently proposed by the International Monetary Fund.
Dr. Nishanda Mel says that there is no analytical basis to determine that the tax on the proposed rental houses is an effective and efficient tax for Sri Lanka.
He has further said that this is the case not only with the tax imposed on the proposed rental houses but also with many other taxes that have been introduced based on the recommendations of the International Monetary Fund.
Verity Research Institute is of the opinion that more fair and efficient tax policies have been introduced than the tax policies proposed by the International Monetary Fund.
Also, Mr. Nishanda Mel alleges that the International Monetary Fund has reversed proposals that were previously in good condition regarding taxes.
The International Monetary Fund should submit technical assistance reports to the government for the recommendations they provide. But Dr. Nishanda Mel says that they have omitted to provide the technical support reports.
