SRI LANKA, March 24 -- The tax proposals of the 2019 Budget to promote large scale investments along with a scheme to exempt upfront import taxes on major investments are business and investment-friendly measures that will boost investor confidence on the country. However, certain non tax issues impacting businesses need urgent attention, said Partner, Tax Services, Ernst & Young, Nishtar Sulaiman in an interview with Business Observer.
Excerpts:
Q: How do you see the overall tax proposals of the 2019 Budget in enabling the government achieve its revenue targets for the year?
A: Of the tax proposals to raise revenue in the 2019 Budget, one of the most significant proposals is the taxes imposed on vehicles. The expectation is to raise Rs....