Two ex-Presidents say people will find it impossible to live under new VAT regime

Two former presidents on Wednesday have said that most people will find it impossible to live after 01 January 2024 due to VAT increases. Former president Maithripala Sirisena speaking to journalists in Colombo said that the administration of the country needed to change as soon as possible.

The VAT increases would cripple the economy, lead to job losses and increase the brain drain, Sirisena said.

Meanwhile, former president Mahinda Rajapaksa said that the government must not solely depend on taxes to boost state revenue. The government must take steps to alleviate the difficulties faced by the people, he said.