Former United National Party Deputy Leader and Parliamentarian Ravi Karunanayake has urged the Government to reconsider plans for a property tax, arguing that Sri Lanka should prioritize the interests of its people even while implementing the International Monetary Fund (IMF) programme.
Speaking in an interview with Ceylon Wire, Karunanayake said the Government should take a country-specific approach when implementing IMF recommendations, particularly in relation to taxation.
He argued that the overall tax burden on Sri Lankan citizens is already excessively high and warned that further taxation could push more economic activity into the informal or illegal sector.
Karunanayake said the Government should engage directly with the IMF and negotiate measures that are appropriate for Sri Lanka’s economic conditions.
He described a property tax as unnecessary and argued that it should be abandoned when the country’s overall revenue position and economic circumstances are taken into consideration.
The former minister further claimed that the potential negative impact of introducing such a tax would outweigh the benefits it could generate for the Government.
