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Written by Staff Writer
COLOMBO (News 1st); 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."
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