Sri Lanka to Raise Income Tax Thresholds, President Says

Sri Lanka has negotiated with the International Monetary Fundraising the minimum threshold for income tax to 150,000 rupees a month from from 100,000 rupees, President Anura Kumara Dissanayake said.

• Other thresholds will also be increased giving more benefits to lower income categories, Dissanayake told parliament on Wednesday
  • Value added tax will be removed from locally produced milk and yogurt
  • A 30% tax for services exports would be reduced to 15%
  • Sri Lanka to start the process to allow lower income earners to request exemption from withholding tax charged on bank deposits
• Private vehicle imports will be allowed from February ...