People wary of benefits from 2018 Budget: Survey

Saturday, 21 October 2017 00:02 - - {{hitsCtrl.values.hits}}

The latest monthly poll conducted by research firm Kantar TNS, for business magazine LMD, reveals that 42% of respondents have high expectations of Budget 2018 whereby they anticipate that the ‘public will receive subsidised benefits.’

In contrast, however, 49%of the people surveyed disagree with this view, stating that they ‘haven’t received any benefits or subsidies to date’ and that ‘there’s no stability in the decisions taken by Government authorities.’

Pointing to ‘gaps in the method of collecting taxes’ and high ‘taxes levied on the common man,’ more than four in 10 of those surveyed state that the budget proposals are unlikely to streamline taxation. However, 43% disagree and a further 26% are undecided.

Meanwhile, only 26% of respondents say that the people will benefit from the Budget proposals, while a majority (52%) sit in the naysayers’ camp and 22% are unsure.

Close to three in 10 (27%) of Kantar TNS’ sample population believe that tax administration will be simplified through the forthcoming budget proposals, while 41% say otherwise and a further 32% neither agree nor disagree.

Citizens point to less taxes and duties, measures to identify tax evaders, concessions for taxpayers, lower rates of taxation, simplified tax administration and stiffer penalties for tax evasion as measures that warrant inclusion in the Budget proposals. LMD’s publisher, Media Services, says the October edition of the pioneering business magazine has been released to leading supermarkets and bookstores in Colombo and the outstations.

Its Cover Story features an exclusive interview with the World Bank’s Country Director for Sri Lanka and the Maldives Dr. Idah Pswarayi-Riddihough, who provides an in-depth assessment of Sri Lanka’s development prospects(for the full story, log onto www.LMD.lk).