President Ranil Wickremesinghe highlighted Sri Lanka's proposal that a 10% levy on the annual profits of global tax evasion assets deposited in tax havens be charged to help fund climate change. The annual profits are estimated at US$ 1.4 trillion per annum. The President made the comment addressing the high-level session of the 10th World Water Summit, themed “Water for Collective Prosperity,” in Bali, Indonesia.

Source: Sunday Times May 20, 2024 12:38 UTC