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.
Read this week’s Sunday Times for your interesting articles including the ’’5th Column’’.
Customs have detected 228 mobile phones and tabs valued at over Rs 30 million left behind in the duty free shopping complex at the Banaranaike International Airport today, Customs officials said.
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