Sri Lanka Podujana Peramuna Presidential candidate Gotabhaya Rajapaksa today (25) noted that he would introduce a new simplified tax policy that would see the lessening and removal of certain taxes.

“The Economic Service Charge, withholding taxes will be repealed and the pay-as-you-earn tax (PAYE) will be removed for both public and private sector employees", Rajapaksa said while speaking at the launch of his election manifesto at Colombo’s Nelum Pokuna threatre today (25).

Speaking further he noted that the Value Added Tax rate (VAT) will also be reduced to 8% and levies on religious places will be canceled. Further, a simple tax scheme will  be imposed on vehicle imports.

“We expect more from the local business community. We need to improve the business climate for them. Obstacles to business such as outdated laws need to be updated. There is undue taxation and it affects people’s productivity and business triumph. “He added.