The Treasury says it has no “good news” to offer in terms of rectifying tax anomalies and says belt up and pay up to prosper. The Treasury says it has no “good news” to offer in terms of rectifying tax anomalies and says belt up and pay up to prosper. “I have no good news,” said Secretary to the Treasury P B Jayasundara, on Saturday at an Institute of Chartered Accountants seminar on recent amendments to tax laws.
On the other hand, if it can be taken as good news, the Treasury has “advised the government not to make further changes to current tax legislation.”
“We do not propose to make changes to the current tax legislation,” said Jayasundara.
This advice includes not introducing new taxes in the short term in the upcoming budget.
“I have advised the government on this budget not to introduce any more new taxes,” said Jayasundara.
The local private sector is still reeling under the shock of new laws that backdate tax payments as far as March 2002, as in the case of tax on secondary market transactions.
The private sector is loudly denouncing these revenue-increasing moves of the government as i