Taxes to increase is disheartening

Monday, 28 September 2020 00:00 - - {{hitsCtrl.values.hits}}

Reading the newspaper Sunday Times business section it is disheartening to hear that the Government intends to increase taxes and reintroduce wealth tax.

This will be disincentive for businessmen to invest in new projects, buy land, houses, apartments, plantations, hotels, etc. This will create more unemployment, Sri Lankans abroad won’t bring their money back, and it will also discourage foreign investors.

We may be back to the 70 to 77 era.

Giving concessions to the public won’t be the answer as if there are heavy taxes everything will crash.

This article will make all honest, hardworking and efficient businessmen be cautious in investing and may create panic.

Most apartments, new buildings will be at a standstill.

Let’s see what happens, whether we go backwards.

A concerned investor