Bankers in Black against unjust tax policy

COLOMBO (News 1st);  Bank employees reported to work dressed in Black to protest against the government's tax regime.

The Ceylon Bank Employees Union said that all members reported to work dressed in Black in support of the National Protest Day.

The Ceylon Bank Employees Union also said that the government has failed to respond to the amendments put forward by the professionals with regard to the new tax policy, and thus strict trade union action will be instituted.

Over 3,000 bank employees from Public, Private and International Banks joined the protest.

The Inland Revenue Department on Wednesday (8) issued a circular on exempting non-cash benefits provided to employees including vehicle, fuel allowances, housing, medical benefits etc. from the PAYE tax.

These also include the value of company shares or the share options offered by employers, the value of the telephone allowances and concessionary rate loans obtained by employees. 

However, the Government Medical Officers' Association alleged that the amendments to the PAYE Tax were made to benefit only the 225 MPs in Parliament.

Dr. Chamil Wijesinghe, the Spokesperson for the GMOA said "The 225 MPs in parliament who are responsible for the downfall of this country, are serving their own needs."