Peter Breuer Sri Lanka Government crisis Gap reports Peter Breuer Sri Lanka

Tax revenue should be growth friendly – IMF

Reading now: 395
www.newsfirst.lk

COLOMBO (News 1st); The International Monetary Fund said that Sri Lanka must increase tax revenue in a growth friendly manner.

Peter Breuer, the Senior IMF Mission Chief for Sri Lanka, told reporters that the current economic crisis has a number of origins including the governments' inability to meet government spending needs through revenue collection and Sri Lanka is among the countries that collect the least amount of fiscal revenue in the world.

He said that Tax Reforms are badly needed to correct the imbalance, and only with appropriate tax receipts will the government be able to fund essential expenditures, and avoid further slashing critically important outlets. "These reforms will also help regain the confidence of the creditors, so that in the future they will once again finance the gap between revenue and expenditure," he said.Peter Breuer further said that it is important that those who can afford it may commence contributions to the financing of necessary government expenditures."The tax package the authorities have introduced including the new tax rate schedule for Personal Income tax helps to meet the objectives.

The tax rates proposed under the authorities program are also inline with similar countries who are contributing to Sri Lanka's support package, through the IMF," he said."So it is important to remember that there are many countries who have income levels comparable or may be less than Sri Lanka with much higher tax rates.

Read more on newsfirst.lk
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

Covid - Mask rules change at hospitals in Kitchener and Guelph - globalnews.ca
globalnews.ca
45%
294
Mask rules change at hospitals in Kitchener and Guelph
Read more: Several southwestern Ontario hospitals lift mask mandates The hospital says it will allow patients to ask that anyone who comes into their presence wear a mask.“This choice will be honoured and respected without question,” a release from the hospital says.It also warns that masks could also be required when interacting with a patient in isolation or those with respiratory illnesses.The hospitals says that universal masking could return during cold and flu season or if there is an outbreak at the hospital.The mask requirement also changed at Grand River Hospital in Kitchener on Monday although it asked that visitors wear them in the chemo suite as well as when they are in direct contact with patients.“Patients will continue wearing masks if they have respiratory symptoms,” an announcement from GRH read. “Visitors – please continue to stay home if you are feeling unwell.”Down the road in Guelph, the hospital also began to lift masking measures on Monday but it did keep some current rules in place.As with SMGH, masks will not longer be required in hallways, meeting rooms, breakrooms, the Bistro, and shared offices but they will still be required in clinical areas.This means that masks will still be required in areas such as nursing stations and patient rooms.“Based on how we move through this first phase, we will look to implement a second phase.
More than 70 large dogs at risk of being put down if not adopted, fostered by next week: ACCT Philly - fox29.com - city Philadelphia
fox29.com
74%
490
More than 70 large dogs at risk of being put down if not adopted, fostered by next week: ACCT Philly
These images from an ACCT Philly Facebook Live show dogs in need of foster or adoptive homes to be saved from possible euthanasia.  (ACCT Philly/Facebook)PHILADELPHIA - The need for a new animal holding facility is putting dozens of dogs at risk of being put down, according to ACCT Philly. The agency is Philadelphia's only animal care and control provider that helps the community with an open intake of animals. According to the group, a second shelter needs to be temporarily created to hold dogs exposed to canine flu for up to one month. As recent cases of canine influenza continue to spread quickly, ACCT Philly says it will need a different place to hold dogs exposed to respiratory viruses. With an average of 100 dogs coming into the shelter each week, ACCT Philly says it cannot close intake services as no other organization can handle the influx of animals. MORE LOCAL HEADLINESAccording to the nonprofit, they must house sick dogs in a separate space in the building, but the temporary space is only able to hold 50 dogs. There are currently 120 dogs that need housing, which means about 70 dogs will need to find placement by Monday, April 24 in addition to dogs continuing to come into the shelter. "There is no good time to do something like this, but unfortunately, with the number of dogs who are getting sick, we don't have a humane alternative," ACCT Executive Director Sarah Barnett said.
Masahiro Nozaki - Peter Breuer - Anti-Corruption & Governance reforms are critical – IMF - newsfirst.lk - Sri Lanka
newsfirst.lk
64%
163
Anti-Corruption & Governance reforms are critical – IMF
COLOMBO (News 1st); The International Monetary Fund has emphasized the importance of anti-corruption and governance reforms as a central pillar of the EFF-supported program as they are indispensable to ensure the hard-won gains from the reforms benefit the Sri Lankan people.In a statement issued ahead of the IMF press briefing on Tuesday (21) morning, Peter Breuer, Senior Mission Chief for Sri Lanka & Masahiro Nozaki, Mission Chief for Sri Lanka noted that Sri Lankan authorities have committed to fundamentally improve public financial management and strengthen the anti-corruption legal framework in line with the United Nations Convention against Corruption.The reform program supported under the EFF arrangement is built on strong policy measures and prioritizes:(i) an ambitious revenue-based fiscal consolidation, accompanied by stronger social safety nets, fiscal institutional reforms, and cost-recovery based energy pricing to ensure the state’s ability to support all its essential expenditures;(ii) restoration of public debt sustainability, including through a debt restructuring to ensure stable financing of the government’s operations;(iii) a multi-pronged strategy to restore price stability and rebuild reserves under greater exchange rate flexibility in order to alleviate the burden of inflation, particularly on the poor, to foster an environment of investment and growth, and to ensure Sri Lanka's ability to purchase essential goods from abroad;(iv) policies to safeguard financial sector stability to ensure that the financial sector can play its key role in supporting economic growth; and(v) structural reforms to address corruption vulnerabilities and enhance growth. It is now essential to continue the reform momentum
DMCA