The Freedom Alliance says it will simplify the current tax system to generate the required revenue when it comes to power in the April polls.
ldblquote Government revenue in relation to GDP has declined to 14 per cent in 2003, due to corrupt tax amnesties, numerous exemptions, generous concessions and a rundown tax administration,
dblquote the Freedom Alliance said in its party manifesto for the upcoming polls said.rn
rnProposed is ldblquote an uncomplicated tax system endash a simple VAT system, a comprehensive coverage for excise taxation, a practical system of income tax and a rational approach to taxation in international trade.
rnThe Alliance said it also hopes to correct the UNF government introduced debt tax which imposed ldblquote a heavy burden on the banking system as well as customers,
dblquote while also reducing other burdens and complexities in the system.rn
rnMeanwhile, the JVP-SLFP Alliance hopes to reduce the budget deficit to a sustainable level through increased r