Taxing for war in Sri Lanka
Ottawan
tax, based on incomes (different pecentage) or flat tax?
When it comes to saying two things are sure in life, death and tax.
And in Sri Lanka, it is very true.
In Sri Lanka the department that collects tax is called Inland Revenue
(IR). And this department is on high gear since the contry needs money
to kill Tamils and occupy.
The 2007 revenue target for the IR is Rs.315 billion (nearly 3 B USD)
In the first six months of the year, the IR has collected Rs.46
billion from income tax.
This with last year, it is a 59% increase.
Other source of income is VAT. The VAT collections for the first six
months have totaled Rs.86.5billion.
All together, Rs.139 billion was collected in those six months.
In 2005 the target was Rs. 200 billion.
In 2006, the target was Rs.260 billion, a 30% growth for revenue.
In 2007, the target has further risen to Rs.325 billion.