SL May Again Need to Impose New Taxes in Budget 2023 – Deshal de Mel

Published on Ceylon Today

One-off taxes proposed in Budget 2022 may not be sustainable in bridging Budget deficits, noted Research Director of Verite Research, Deshal de Mel. Speaking exclusively to Ceylon FT, Mel noted that Sri Lanka may again have to propose new taxes in Budget 2023 to address revenue shortfalls.

De Mel added that the capital expenditure of Rs 931 billion allocated in Budget 2022 could have been reduced and opined that it should have been allocated to immediate and urgent needs in sectors such as social protection, education, and healthcare given the current economic difficulties, than to sectors which provide a far longer-term return such as physical infrastructure.