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WorldPosted at: Aug 15 2024 8:58AM


SL gov't proposes personal income tax relief

Colombo, Aug 15 (UNI) The Sri Lankan government has proposed, to the International Monetary Fund (IMF), a personal income tax relief by adjusting tax slabs, the President's Media Division (PMD) said in a statement on Wednesday.
The PMD said that Sri Lanka has seen a strong increase in tax revenue so far in 2024. The government asked the IMF to adjust Personal Income Tax slabs from 500,000 rupees (about 1,670 U.S. dollars) to 720,000 rupees (about 2,400 U.S. dollars), the PMD said.
The IMF, after considering the proposal, suggested more relief to lower slabs, similar relief for mid-level and slightly less for higher income earners, keeping the proposal's core intact, the PMD said.
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