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Sri Lanka Equity Forum » Stock Market Talk » DOES GOVERNMENT EFFICIENTLY UTILIZE TAXES???

DOES GOVERNMENT EFFICIENTLY UTILIZE TAXES???

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1 DOES GOVERNMENT EFFICIENTLY UTILIZE TAXES??? on Tue Feb 21, 2017 11:58 am

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
From every piece of consumables, services provided public pay an immense amount of taxes to government. What they do with billions of taxes levied on public? How efficiently use such taxes is the basic question raised by people. What % is absorbed for parliamentarians for their housing,vehicles, salaries, food,escort, security, fuel, cell phone etc....

Government should have fiscal plan to minimize such cost relieving heavy tax burden loaded to public...Look into one piece of taxes charged for post paid mobile telephone bill....rounded off..

Monthly usage charge               Rs. 1,394
Government taxes & levies                493    35.4% of monthly usage charge
Total value added taxes                     336    24.1% of monthly usage charge
Total taxes                                      829    59.5% of monthly usage charge

Other than above monthly service charge of Rs.350 & other services (non taxable) Rs.71 are added. So total charge represent as Rs.1250 that reflect 89.7% of monthly usage charge.
What a funny tax system....

Well, it is open secret that a substantial % of taxes earned are simply absorbed to cover up ever increasing corruption, immense losses at state owned white elephants, political based mismanagement, excess state workers, vote oriented salary increases etc...

Without revisiting & placing immediate correction measures citizens will never free from dense tax charges for generations...There should be an immediate plan to reduce/eliminate ever increasing blood sucking from people just to avoid future chaos.Common people can be at least consoled in the future such levies would return partly to majority (not to privileged) as benefits who struggle day to day life.

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