Sri Lanka personal income tax now very low

Sri Lanka personal income tax now very low
Sri Lanka personal income tax now very low

New income tax rates

The Secretary to the Treasury Dr P B Jayasundera said, Sri Lanka's personal income tax rates are now very low and eligible persons should start paying taxes voluntarily.
Sri Lanka is becoming a service economy made up of self-employed and professionals working in legal, healthcare, education or information technology and income tax payments had to be voluntary.

Income up to 50,000 rupees a month was completely exempt and those earning up to 100,000 has to pay only 2%,P B  Jayasundera said.

politicians,doctors, lawyers and other professional were now beginning to pay income taxes voluntarily.

Under Sri Lanka's pay as you earn scheme (PAYE) a person with 100,000 rupee of income has to pay 2333 rupees a month. A person earning 150,000 rupees has to pay 7,000 rupees and a person earning 200,000 has to pay 14,000 rupees a month.