Tax the rich? New Zealanders can argue about it; Sri Lanka must first find them
Last week, a survey from New Zealand caught my attention. Nearly 190,000 people took part in an online poll run by the country’s national broadcaster. One question was simple: should wealthier people pay more tax? Sixty-two percent said yes. Seventy percent of the lowest earners agreed, which is no surprise. But even among those earning […]
A recent survey in New Zealand asked people if the wealthy should pay more taxes. Sixty-two percent of respondents said yes, with even a majority among higher earners agreeing. However, the country's tax system is already in place, making the idea easier to implement. In contrast, Sri Lanka still needs to build its tax infrastructure.
The informal economy and informal wealth make it challenging to tax the rich effectively. Additionally, the trust in the system is low, with many people believing that the rich have more advantages and opportunities. If a wealth tax were introduced, the wealthy might simply avoid it by hiding their wealth, leaving the middle class to bear the brunt.
Building trust and ensuring that tax revenue is used effectively are crucial for the success of any progressive tax policy.
Written by urgent.news from The Island Sri Lanka's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
