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One-off 25% surcharge tax imposed on those earning more than Rs. 2,000Mn
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COLOMBO (News 1st); The Cabinet of Ministers have granted approval 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.
The proposal was presented by the Minister of Finance Basil Rajapaksa according to one of the 2022 budget proposals.
Accordingly, the Attorney General's clearance has been received for the Surcharge Tax Bill prepared by the legal
draftsman.
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