Do not pay tax if monthly income does not exceed Rs. 100,000: Finance Ministry

5 July 2024 11:25 am Views - 3768

Colombo, July 5 (Daily Mirror) - State Minister of Finance Ranjith Siyambalapitiya clarified that individuals who have received letters or text messages from the Inland Revenue Department requesting tax payments need not comply if their monthly income does not exceed Rs. 100,000. 

He emphasised this in response to reports that individuals with Taxpayer Identification Numbers (TIN) had received such communication.

Minister Siyambalapitiya said that those whose monthly income does not exceed Rs. 100,000 are exempt from paying tax. 

He said that individuals can inform this to the nearest regional office of the local revenue department.

The Minister said that approximately 2.3 million people have received their TIN numbers to date, with 1.3 million issued in June alone. 

He further said the government's target is to increase the issuing of TIN numbers to 7.3 million by the end of July.