President Anura Kumara Dissanayake announced in Parliament that the PAYE tax exemption limit has been increased from Rs. 100,000 to Rs. 150,000, following discussions with the International Monetary Fund (IMF) during the third review.
“We have held discussions and were able to raise the tax threshold from Rs. 100,000 to Rs. 150,000 per month,” President Dissanayake said.
The decision was made in response to concerns raised by professionals in Sri Lanka about the PAYE tax system, the President added. (Newswire)