Rice production exempted from Social Security Contribution Levy

News

There will be no Social Security Contribution Levy imposed on purchasing of paddy, production, and sale of rice.

A proposal by President Ranil Wickremesinghe as the Minister of Finance was approved by the Cabinet to amend the Social Security Contribution Levy Act exempting the tax in order to encourage local rice producers.

At present, 6-7 rupees is charged as the above levy for a kilogram of rice produced. The Cabinet has also approved the purchasing of a kilogram of Nadu for Rs. 100 from farmers to be distributed to low-income families free of charge.

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