More tax cuts coming in 2027 Budget, President AKD announces

Lankadeepa reports that President Anura Kumara Dissanayake said the forthcoming Budget would include reductions to some taxes, provided revenue targets remained protected. Newswire identifies the Budget as the 2027 plan and likewise reports that the tax changes are intended not to undermine those targets.

Newswire reports that Dissanayake said his administration had introduced no new taxes since taking office and had cut some existing levies. He contrasted its revenue performance with earlier governments, which he said had commonly collected roughly nine-tenths of their forecasts; he said the current government had brought in more than it had projected.

Newswire reports that Dissanayake said the government was sustaining a primary budget surplus, which he described as a way to ease the national debt load over time. He also recognized that higher prices for products and services were putting added strain on households.

Newswire reports that Dissanayake attributed much of the inflation pressure to the continuing conflict in the Middle East and interruptions to international supply routes. Neither report gives further details on the timing or scope of the proposed tax reductions.

Written automatically by AI from the outlets’ own reports, and not reviewed by an editor. It can be wrong — the original report is the authority.