Sri Lanka, Feb. 12 -- Deputy Minister of Industries and Entrepreneurship Chathuranga Abeysinghe states that there is no possibility of reducing taxes within this year, as the government is required to collect 15.1% of the Gross Domestic Product (GDP) in taxes in accordance with agreements reached with the International Monetary Fund (IMF).

"A reduction in indirect taxes, in particular, will have to be implemented gradually. We cannot expect a tax reduction this year. It is necessary to collect the required amount of taxes amounting to 15.1% of GDP, as stipulated by the IMF. However, once we emerge from this process and revenue collection efficiency improves, it will be possible to extend concessions to products from various industries," ...