According to the latest LMD-Nielsen Business Confidence Index survey, 80% (compared to 53% in June) corroborates that the tax regime reemerges as the number one business concern among corporates.

In related news, the treasury reported higher income tax collections for the first quarter of this year, which is attributed to a new online collection system as well as better enforcement.

Meanwhile, VAT accounted for 27% of tax revenue and excise duty reportedly brought in 22%.

Nearly six in 10 respondents also consider political interference as being a major issue for business in what surely a reflection of the state of the nation today.

Inflation is next on the list of corporate grievances with a third (versus 58% in the previous month) of those surveyed saying so.

In mid- July, the central Bank of Sri Lanka reiterated its aim of maintaining inflation in the 4 to 6% range while supporting economic  growth.

Moving on to the most pressing national issues facing Sri Lanka today,86% ( up from 72% in June) of respondents feel  that the political culture needs urgent attention, which isn’t surprising given the prospect of elections later in the year.

The economy comes a close second in terms of national priorities according to 80% of poll responses.

And in the light of recent events, ‘ethnic issues’ are also highlighted as a major concern for the nation- by more than two-thirds of the survey sample, in fact.