The government has proposed to the International Monetary Fund (IMF) an adjustment to the Personal Income Tax slabs from Rs. 500,000 to Rs. 720,000, following the strong performance in tax revenue the country made this year, the Presidential Secretariat said.
The move is aimed to provide relief to mid-level taxpayers affected by recent tax reforms.
IMF has provided suggestions to this proposal, including offering more substantial relief to taxpayers in the lower income brackets, maintaining similar levels of relief for mid-level earners as proposed, and slightly reducing the extent of relief for higher-income earners, the Secretariat said in a statement.
“These changes aim to provide a balanced approach that retains the core objective of the government's proposal while enhancing its impact on those most in need,” the statement from the Secretariat said.
The Committee on High Posts has approved the nomination of Former Air Force Commander Air Chief Marshal (Retd.)
Former Chairman of SriLankan Airlines, Nishantha Wickramasinghe, arrested on allegation of corruption by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has been remanded until July 1 by the Colombo Magistrate court.
A Sri Lankan man was apprehended at Suvarnabhumi airport for attempting to smuggle wildlife out of the country after three ball pythons were found hidden in his underwear, the Bangkok post reported.
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