New Tax amendments in srilanka
After the appointment of the new government , they introduce new tax reductions.
- VAT reduce to 15% to 8%
- Nation Building tax(NBT) removed
- VAT liable turnover for 25 Million monthly sale
- Paye Tax Removed
- With holding tax on interest income removed
These implementations are very good to boost the economy.
The most important thing is that removing the tax on interest income. we can now get the fully interest income.
VAT reduction is best for customers and business people too.
Whole goods and services prices are subject to down due to vat reduction.