A crucial discussion between President Anura Kumara Dissanayake and senior officials from the Ministry of Finance took place at the Presidential Secretariat. The meeting addressed pressing issues related to motor vehicle imports, withholding tax, Value Added Tax (VAT), and the need for digitalization.
Special focus was directed towards the challenges surrounding vehicle imports, with the President stressing the importance of resolving these matters while considering Sri Lanka’s ongoing financial crisis and its broader economic priorities.
President Dissanayake also underscored the need for a streamlined process to refund withholding tax collected from pensioners who are not liable for income tax, highlighting the necessity of alleviating their financial burden.
In addition, the President emphasized the urgency of digitizing VAT collection processes to enhance efficiency and transparency. He proposed the swift implementation of a comprehensive digital system aimed at improving tax compliance and boosting revenue generation.
Expressing confidence in the country’s economic trajectory, President Dissanayake noted that Sri Lanka is gradually recovering and moving toward stability. He reaffirmed the government’s commitment to enhancing public benefits despite the prevailing challenges.
The discussion was attended by Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma, Secretary to the Ministry of Finance Mahinda Siriwardena, Central Bank Governor Dr. Nandalal Weerasinghe, Presidential Advisor Duminda Hulangamuwa, and other senior officials from the Ministry of Finance.
