Some top bankers are urging a reduction in taxes on banks across the board, saying these high tax regimes are unique only to this country.
Rajan Britto, Chairman DFCC Vardhana Bank (DVB) made this call when DVB officially launched the Vardhana Visa Credit Card on Monday. He said that there is high taxation with two forms of tax even on credit cards and that Sri Lanka is the only country in the world where ‘you have double, or even triple, tax on the same source of income’.
Mr. Brito also noted that in other countries people are only taxed once and said that what we have is an anomaly.
DVB has offered their credit card only for their selected customers. L.G. Perera, Managing Director DVB said that the credit card will be available as Vardhana Visa Classic and Gold.
He said that there is contraction in all credit products and the demand for credit has slowed across the board due to the recessionary environment.
He told The Sunday Times FT that the bank however decided to introduce this product as they felt the country will step out of a dismal situation with the war being over. |
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