Sri Lanka’s economic crisis began with the war – Finance Minister
Minister of Finance and Mass Media, Mangala Samaraweera says the open economy was in operation for only two years and with the start of the war in the '80s the country went backwards.
The economic crisis that began with the war in the early 1980s has affected Sri Lanka in various ways up to 2015, the Minister pointed out.
Minister Samaraweera expressed these views addressing a seminar held in Matara recently under the theme "tax not a liability- social responsibility".
He explained that nearly 82% of the total tax revenue collected by way of indirect taxes is borne by normal citizens. The ratio is exactly 82 - 18 percent.
"This is unfortunate as well as surprising. Bangladesh, are in front of us. The neighboring India has a ratio of 50-50. In our country the ratio is at 80-20 l...