Sri Lanak: Ripped Income Tax Net

by Devan Daniel 

( August 26, 2016, Colombo, Sri Lanka Guardian) Poor countries struggle to raise adequate tax revenue to pay for public infrastructure. This is a cost of being poor; most people are penniless and much economic activity is in the informal sector, which puts it beyond the taxman’s reach.

Businesses and wealthy people who should pay tax on profit or income don’t feel compelled to do so because government is usually corrupt, infrastructure derelict and nobody else is paying taxes anyway.

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