Social Security Contribution Levy Bill tomorrow (8)

COLOMBO (News 1st); A decision taken to debate the Social Security Contribution Levy Bill next Thursday (08).

Although the Social Security Contribution Levy Bill was supposed to be passed without a debate in Parliament yesterday (06), it was decided to hold the said debate on the coming Thursday as Members of Parliament indicated that a debate was necessary. 

This decision was arrived at because the leader of the Jathika Janabalawegaya Hon. Anura Dissanayaka and Member of Samagi Jana Balawegaya (Dr.) Harsha de Silva requested the Speaker to take it into debate given that amendments have been submitted for the said Bill. 

The newly introduced Social Security Contribution Tax Bill is a way of putting the economic burden on the people, National People’s Power Leader MP Anura Kumara Dissanayake said.

The said the levy practically covers the entire economic system in the country, Dissanayake noted.

Accordingly, the adjournment debate on the Mid-year fiscal position report for the year 2022, which was scheduled to be held next Thursday, will be held on a later day.

The Committee on Parliamentary Business held previously decided to pass the Social Security Contribution Levy Bill yesterday (06) without debate in Parliament.

Budget 2022 introduced the Social Security Contribution Levy Bill as a measure to raise government revenue and rebuild the economy hit by the Covid-19 pandemic. 

This tax is levied at the rate of 2.5 percent upon the annual turnover is Rs. 120 million on the taxable turnover of importers, manufacturers, service providers, and wholesalers, and retailers.