P'ment to debate Social Security Levy Bill

COLOMBO (News 1st); The Parliament is scheduled to convene on Thursday (8) at 9.30 AM.

A decision was taken to debate the Social Security Contribution Levy Bill on Thursday (08), after the debate was postponed on Tueday (6) following objections raised by the opposition.

The adjournment debate on the Mid-year fiscal position report for the year 2022, which was scheduled to be held today (8), will be held on a later day.

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.