- Last Update 2024-07-18 14:24:00
11 funds including EPF and ETF exempted from 25 % Surcharge Tax
Eleven workers’ social security and welfare funds including the Employees Provident Fund and the Employees Trust Fund have been exempted from the 25 per cent Surcharge Tax.
This decision was taken by Finance Minister Basil Rajapaksa under mounting pressure of government and opposition parties, trade unions and associations of social service activists, informed sources said.
A collective of trade unions politicians and social service activists representing several sectors have said funds of workers should not be taxed in any decent society to compensate for the loss of government revenue due to financial mismanagement and lack of clear economic policy.
The Finance Minister assured the Cabinet of Ministers yesterday that 11 funds will be exempted from the one-time tax surcharge proposed in the 2022 Budget. (Bandula)
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