Cashed trapped Treasury is considering a proposal to mandate those who own a car, house, credit card and a mobile phone to open a tax file. Cashed trapped Treasury is considering a proposal to mandate those who own a car, house, credit card and a mobile phone to open a tax file. The Ceylon Chamber of Commerce, who mooted the proposal, says it is styled on line with India, who uses such methods to widen the tax net.
“If you own a car, a credit card, a house and a mobile phone, you obviously can afford to open a tax file. The government has told us that they are seriously looking at it,” Chamber Chief Deva Rodrigo told participants at the National Insurance Congress on Tue.
The Chamber, says Rodrigo, has also suggested that the government opens tax files for individuals who pay Rs. 5,000 and firms who spend Rs. 10,000 and above on fuel bills.
Rodrigo, says the government will come out with innovative revenue enhancing measures in the upcoming budget.
Meanwhile, aggressive collection methods have pushed tax revenue up one percent or Rs. 20 bn of GDP for the first six months.
A recent Chamber survey showed that about 4,2