Sri Lanka’s Finance and Media Minister Mangala Samaraweera had said that government is aiming to change the Direct vs. Indirect Tax ratios to 40% vs. 60%, respectively by 2020.

“We need to change this into a more balanced 40 – 60 ratio. This is the target we have for 2020” Finance and Media Minister told reporters on Tuesday (June 19^th) adding that at present in Sri Lanka only 18% of taxes are collected through direct taxes and 82% is indirect taxes.

The Minister had stressed that balancing out the Direct – Indirect tax imbalance is vital, and in achieving the same it is vital that professionals such as doctors, lawyers, tuition masters, architects and others step up and start paying their taxes in line with the new law – which then as a government could look at giving more subsidies for the people.

Finance and Media Minister called on professionals like doctors, lawyers, tuition masters, architects and others to come forward and pay their taxes.

“Our doctors, lawyers, tuition masters, architects have been funded by taxpayers’ money through free education,” the Minister said.

- Reporting by Devendra Francis