Former Deputy Leader of the United National Party and Member of Parliament, Ravi Karunanayake, has cautioned against imposing taxes on every sector as a means of generating revenue.
Speaking to the media, the MP emphasized that while revenue collection is necessary, the International Monetary Fund (IMF) should avoid blanket taxation that could harm the economy.
He highlighted the example of young, talented entrepreneurs who bring foreign income into the country through digital platforms. “It is unfair to impose an 18 percent tax on this sector,” Karunanayake said, warning that such measures could stifle growth and innovation.
The MP stressed that instead of blocking potential revenue streams, policies should encourage inflows of foreign income. “It is more effective to earn revenue after money has entered the country,” he added.
