The Inland Revenue Department, the Fiscal Policy Department, the Finance Ministry, and the United Nations Development Program (UNDP) in Sri Lanka together announced the Sri Lanka Country Engagement Plan on Friday (April 28).
The Sustainable Development Goals (SDGs) and the country’s tax policies would be better aligned according to the engagement strategy.
The SDGs are an international call to action to eradicate poverty, safeguard the environment, and guarantee that everyone lives in peace and prosperity by the year 2030. But it necessitates fundamental adjustments to the structure of the economy and fiscal policies.
The recently unveiled SDG Stimulus Plan of the UN Secretary-General has called for a fit-for-purpose sustainable funding method to counteract the difficult market circumstances faced by poor nations and speed up progress towards the SDGs.
In order to finance the SDGs, consistent and predictable state resources are essential.
In order to better link taxation policies with the fulfillment of the SDGs in the nation, the Inland Revenue Department, the Fiscal Policy Department, the Finance Ministry, and the UNDP in Sri Lanka got together.
The Sri Lanka Country Engagement Plan will serve as the road plan for the demand-driven activities envisioned for the country, which will include 25 nations worldwide, including the Maldives and Bhutan in the Asia Pacific area.
