President Anura Kumara Dissanayake told Parliament that local investments have increased by 18% compared to last year, with indicators suggesting it may be the best year on record.
He said the 2025 budget projected an income of Rs. 4.5 trillion—an estimate many had dismissed as unrealistic or utopian at the time.
However, he noted that reforms to the Inland Revenue Department, Customs Department, and Excise Department, alongside efforts to bring tax evaders into the tax net, are beginning to yield results.
The President also revealed he holds a list of 200 major tax evaders, with Rs. 100 to 150 billion in unpaid taxes.
“Do not worry, none of your faces are in this list,” he told members of Parliament.
Additionally, the President said 50 major loan defaulters who borrowed from state banks were summoned for discussions. He assured that banks have been given full independence to act and address corruption.
President Dissanayake also said foreign reserves are expected to surpass $7 billion by December this year. (Islandnews)
