Cabinet has approved to submit for Parliamentary approval, the proposal to impose a one-off 25% surcharge tax on individuals or companies earning taxable income more than Rs. 2000 million for the assessment year 2020/2021.
This proposal was put forward in Budget 2022. The Attorney General's clearance has been received for the Surcharge Tax Bill prepared accordingly by the Legal Draftsman.
Accordingly, the Cabinet of ministers approved the proposal presented by the Minister of Finance to publish the Bill in the Government Gazette and thereafter submit it to Parliament.
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.
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