Cabinet approves changes to Personal Income Tax

13 September 2024 05:18 pm Views - 9416

Colombo, September 13 (Daily Mirror) -  The Cabinet has approved changes to the Personal Income Tax (PIT) structure, which will take effect in April 2025, according to the President’s Media Division.

Under the new structure, salaries of Rs. 150,000 will see a 14% tax reduction, while salaries of Rs. 200,000 will benefit from a 20% reduction, and those of Rs. 300,000 will receive a 25% reduction.