Govt set to introduce property tax in 2027

INSUBCONTINENT EXCLUSIVE:
The government has agreed to introduce a nationwide property tax in the first half of 2027, according to the latest staff report issued by
the International Monetary Fund (IMF).According to the undertaking given to the IMF, the government is continuing to build the data
infrastructure to facilitate the introduction of the property tax.The government is projected to collect Rs
56 billion in 2027 through the property tax while the projected revenue through the property tax in 2028 is Rs
improve public sector financing.In a letter of intent addressed to Kristalina Georgieva, the Managing Director of the IMF, President Anura
Kumara Dissanayake as the Minister of Finance, Planning, and Economic Development has stated that the government is fully committed to the
supported by enhanced social safety nets to protect the most vulnerable;(ii) implementing the debt restructuring strategy to preserve public