Sri Lanka is taking measures to expedite the economic development and the tax structure has been changed in accordance with the government's plan a government minister said today. Deputy Minister of Economic Development Ranjith Siyambalapitiya said in parliament today that the government hopes to double the per-capita income up to 4,000 US dollars by 2015 with its development plans.
Meanwhile the House today passed two orders relating to International Telecommunications Operators Levy under the Finance Act.
Taking into account the country's strong economic growth during the past 5 years, the International Monetary Fund (IMF) in January upgraded Sri Lanka to Middle Income Emerging Market Status from Poverty Reduction and Growth Trust (PRGT) eligible countries.
Sri Lanka's per capita Gross National Income (GNI) has not declined for the last 5 years and it has withstood the rising oil prices and the subsequent global economic crisis despite a massive military offensive that lasted over two years to end a three decades old conflict.
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