Inland Revenue and Appropriation Acts to be amended in line with debt restructuring

The Inland Revenue Act and the Appropriation Act would be amended in line with the domestic debt restructuring strategy, State Minister of Finance Ranjith Siyambalapitiya told journalists at Ruwanwella on Sunday.

Siyambalapitiya was talking to journalists about the next steps to be taken by the government after Parliament approved the domestic debt restructuring programme on Saturday.

The State Minister said the Central Bank (CBSL) would publish the decisions reached on Saturday through advertising in the media.The government would also hold discussions with heads of pension funds affected by domestic debt restructuring, he said.

Siyambalapitiya said there was space for further revisions in the domestic debt restructuring strategy following discussions.The state minister added that the Inland Revenue Act and the Appropriation Act required amendments in line with the restructuring strategy.The resolution on domestic debt restructuring was passed in Parliament with amendments on July 1 with a majority of 60 votes, 122 votes in favor and 62 votes against.