INSUBCONTINENT EXCLUSIVE:
President Anura Kumara Dissanayake announced that the Withholding Tax will be increased from 5% to 10%.Speaking in Parliament today (18), he
said that the government agreed with the International Monetary Fund (IMF) to reduce tax on services exports from the existing 30% to 15%.He
certain amount of money in banks and live off the interest they earn
Usually, they are subject to tax if they earn Rs
150,000 per month in interest
But what can happen through withholding tax is that even if it is less than Rs
Inland Revenue Department to address concerns regarding the tax
150,000 tax threshold and those paying income tax below the 10% tax rate will be able to apply for lower withholding tax rates and to be
free from the tax, through the Inland Revenue Department.Additionally, the President stated that the government had agreed, as part of the
