• The IMF stresses the importance of Sri Lanka implementing an equitable tax system to improve revenue collection, stabilize fiscal conditions, and foster sustainable economic growth amid ongoing challenges.

The International Monetary Fund (IMF) emphasized Sri Lanka's urgent need for an equitable tax system amid public sector calls for higher pay, stressing the importance of improving tax revenues to meet fiscal obligations. IMF Communications Director Julie Kozack highlighted the necessity of ensuring that taxes are paid by those most capable, advocating for enhanced tax administration and reduced exemptions. Acknowledging the country's challenging economic landscape, Kozack underscored the critical role of restoring fiscal and debt sustainability to stabilize the economy and foster long-term growth and job creation, aiming to prevent a recurrence of past economic crises.

IMF reiterates need for Sri Lanka to have an equitable tax system | Daily Mirror