On this episode of 'At HydePark with Indeewari Amuwatte', an eminent panel of experts on Taxation discuss how Sri Lanka’s tax policy should be structured. Principal of the Tax & Regulatory Division of KPMG Suresh Perera points out that Sri Lanka must address tax policy and differentiate taxes according to an industry priority mechanism to reap the best tax income for the government, without having a uniform tax rate for all sectors which could be a disadvantage for certain industries. Perera said officers of the Inland Revenue Department should also be educated to understand different industry activities to make the tax collection mechanism more efficient. Meanwhile, Chairman of Ceylon Chamber of Commerce and Country Managing Partner of Ernst & Young (Sri Lanka & Maldives) Duminda Hulangamuwa pointed out that Sri Lanka is not in a position to give different taxes to each industry as the country is in the middle of a debt restructuring process. Hulangamuwa is of the view that until Sri Lanka attains debt sustainability status through the IMF programme, there will be no room for economic growth as the country is unable to attract Foreign Direct Investment without credibility assured by the IMF. Meanwhile, Senior Partner of Gajma & Co. N. R. Gajendran noted that tax relief could be given if the investment expenses of the corporation can be identified. Gajendran said that since the government is expected to broaden its tax net in the year 2024, authorities should clarify the government's decision to include all citizens above 18 years of age in the tax net by making it mandatory to open Tax Identification Number files with the Inland Revenue Department.