The government has proposed to the International Monetary Fund (IMF) a personal income tax relief to Sri Lankans by adjusting tax slabs, the President’s Media Division (PMD) said in a statement yesterday (14).
The government had asked the IMF to adjust Personal Income Tax slabs from 500,000 rupees to 720,000 rupees, the PMD said.
The government is aiming to provide relief to mid-level taxpayers affected by recent tax reforms, the PMD said.
The IMF, after considering the proposal, had suggested more relief to lower slabs, similar relief for mid-level and slightly less for higher earners, keeping the proposal’s core intact, the PMD said.
The current administration raised the maximum limit of personal income tax to 36 percent from 24 percent, and brought the taxable monthly income to 100,000 rupees from 250,000 rupees.
(island.lk)
