Sri Lanka, Dec. 21 -- * Regional average stands at around 20% * Greater attention on tax evasion and avoidance *Widening tax base, simplification of tax system and improving tax administration critical

Sri Lanka's tax to GDP ratio (a key economic indicator showing a country's total tax revenue as a percentage of its Gross Domestic Product (GDP), calculated as (Total Tax Revenue / GDP) x 100) which trials the global and the regional figure is to be closed in by addressing tax avoidance and evasion in the coming years according to a senior official of the Finance and Planning Ministry.

"The Government hopes to increase tax revenue as a percentage of the GDP to around 20% to get close to the Asian average of around 20%," said Minister of L...