| dc.contributor.author | Econ Team | |
| dc.date.accessioned | 2025-02-04T04:08:26Z | |
| dc.date.available | 2025-02-04T04:08:26Z | |
| dc.date.issued | 2024-12-19 | |
| dc.identifier.uri | https://archive.veriteresearch.org/handle/456/7236 | |
| dc.description | This infographic was posted on the Public Finance Platform in English. | en_US |
| dc.description.abstract | In his parliamentary speech on December 18, 2024, the President announced key tax policy changes:
Personal Income Tax (PIT): The tax-free threshold will be increased from LKR 100,000 to LKR 150,000.
Personal Income Tax (PIT): Adjust PIT rates to provide largest savings for those with incomes under LKR 350,000. Withholding Tax (WHT): The rate will be increased from 5% to 10%.
VAT Exemptions: Locally produced yogurt and other dairy products will be exempted from Value Added Tax (VAT).
Tax on export of services: The tax exemption will be removed, and a concessionary rate of 15% is proposed to be charged.
It is worth noting that Verité Research has advocated for increasing the Withholding Tax (WHT) to 10% to promote fairness and efficiency in Sri Lanka's tax system.
To explore our recommendations on WHT, visit the 'Related Source' URLs given below. | en_US |
| dc.language.iso | en | en_US |
| dc.publisher | Colombo: Verité Research | en_US |
| dc.relation.ispartofseries | Public Finance Infographics; | |
| dc.relation.uri | https://archive.veriteresearch.org/handle/456/6560 | en_US |
| dc.relation.uri | https://www.youtube.com/watch?v=jOYO5yUAYHQ | en_US |
| dc.subject | Public Finance - Tax concessions | en_US |
| dc.subject | Public Finance - Withholding Tax | en_US |
| dc.subject | Public Finance - Tax policy proposals | en_US |
| dc.subject | Public Finance - VAT exemptions | en_US |
| dc.subject | Public Finance - Personal income tax | en_US |
| dc.title | Tax policy proposals announced by the president on 18 Dec 2024 | en_US |
| dc.type | Infographics | en_US |
