“Govt. to take serious look at tax payment anomalies”

The one going tax payment anomalies will be seriously looked at and people who should not be paying tax for simply gaining fixed deposit income or similar issues would be addressed, said Deputy Minister of Economic Development Prof. Anil Jayantha Fernando. He said that Sri Lanka’s new personal income tax structure will reduce tax burden across income groups and the lifting of the minimum tax threshold from Rs. 100,000 to 150,000 too would give more relief for taxpayers.

While streamlining the payment of taxes more non tax payers would be included in the tax net.

He also said that some entities maintain two books and one for tax and other to maintain their accounts and this may not continue in the future due to the friendly tax structure they introduced.

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