Colombo, Oct 16 (PTI) Sri Lanka’s tax policies have contributed to the island’s 2022 economic meltdown, according to the New York-based Human Rights Watch.

The non-profit group called for scrapping the tax holidays allowed for corporates as it leads to abuse.

In a 101-page report released here on Wednesday, the Human Rights Watch (HRW) contends that historically the Sri Lankan governments had “adopted policies that resulted in inadequate revenues contributing not only to Sri Lanka defaulting on its debt but also to a decades long decline in public education spending as a share of GDP to among the lowest in the world”.

Sri Lanka in April 2022 declared its sovereign default as the island’s economy went bankrupt.

“Low corporate and personal tax revenues have led to an average of 80 per ce

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