Speaker recorded his certificate to Another Tax Bill



It was announced to Parliament today (21) that Speaker Mahinda Yapa Abeywardena recorded his certificate yesterday (20) to the Social Security Contribution Tax Bill.
 
Accordingly, the Social Security Contribution Tax Act No. 25 of 2022 will come into force from yesterday.
 
This bill was passed by majority vote in Parliament on 08th.

Budget 2022 introduced the Social Security Contribution Tax as a measure introduced to raise gove ment revenue and rebuild the economy hit by the Covid-19 pandemic.
 
This tax is levied at the rate of 2.5 percent on the taxable tu over of importers, manufacturers, service providers and wholesalers and retailers whose annual tu over exceeds 120 million rupees.
 
The expected revenue from this tax is 140 billion rupees per year.
(colombotimes.lk)