INSUBCONTINENT EXCLUSIVE:

from next year, says Cabinet Spokesman Minister Bandula Gunawardena.He stated that the proposal will be presented with the next budget

as follows:The tax of Rs

3,500 imposed on an individual with a monthly income of Rs

150,000 will be reduced by Rs

500 to Rs

3,000.The tax of Rs

10,500 currently imposed on an individual with a monthly income of Rs

200,000 will be reduced by Rs

2,100 to Rs

8,400.The Rs

35,000 tax imposed on an individual with a monthly income of Rs

300,000 will be reduced by Rs

8,600 to Rs

450,000 is currently required to pay a tax of Rs

88,500 while this will be reduced by Rs

16,500 to Rs

72,000.The monthly tax of Rs

142,500 imposed on an individual earning a monthly income of Rs

600,000 will also be slashed by 16,500 to Rs

decided to inform the Treasury, which prepares the budget, to people relief to the people on the pay-as-you-earn (PAYE) tax with the

agreement of the International Monetary Fund

To give relief to professionals and private sector employees

It was decided in the Cabinet meeting today to accept the proposal of the International Monetary Fund in this regard

[Sri Lanka] - Cabinet decision on minimizing PAYE tax