INSUBCONTINENT EXCLUSIVE:
The Cabinet of Ministers given the nod to publish the Social Security Contribution Tax Bill in the government gazette and to submit it to
the parliament for approval.The parliament had passed a resolution in the 2022 budget proposals to introduce a Social Security Fund.It was
decided to introduce a new tax at the rate of 2.5% for importers, manufacturers, service providers, wholesalers and retailers whose total
cleared by the Attorney General.Accordingly, the proposal presented made by the Prime Minister, in his capacity as the Minister of Finance,
Economic Stabilization, and National Policies, to publish the said Bill in the government gazette and submit the same thereafter in
parliament for approval, was green-lighted by the Cabinet.
This article first appeared/also appeared in https://adaderana.lk
