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Cabinet approves changes to Personal Income Tax
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.
Comments - 56
Comments - Cabinet approves changes to Personal Income Tax
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kavin Friday, 13 September 2024 05:27 PM
After AKD comes to power there will be income tax up to Rs.500,000
44 34
M Fernando Friday, 13 September 2024 09:45 PM
Desperate measures by a desperate RW trying to cling to power. Suddenly he is able to reduce income tax after bleating for so long that his hands are tied by IMF !
8 34
Hersth Friday, 13 September 2024 11:38 PM
The fact that all these concessions can be given to the people just before elections, but was withheld all the indicated the duplicity of the government. They made the people suffer whilst they enjoying trotting the globe on tax payers money.Therefore I will not vote for them.
5 40
Neel Gamage Saturday, 14 September 2024 11:31 AM
Yes, so every one can understand what was the RW and Pohttuwa cabinet planned Tto loote the entire Srilankan while their friends and relatives enjoying the life forever. Now its visible the dreams not works so suddenly they try give relaxing to the people just because name shake of few votes. His time has over.
2 17
King Frog Like You Saturday, 14 September 2024 12:41 PM
What lies. There was a FD interest of 15% upto Rs 1,500,000 total deposits for those over 60 years. These jokers stopped that. May you get only 10 (ten) votes only on 21.09.2024.
2 14
senior Friday, 13 September 2024 05:40 PM
Bola number 110.... hahaha.... desperate measures at desperate times..... come on RW....we want more.....
22 78
Kamal Friday, 13 September 2024 09:09 PM
This was under discussion with the IMF for a while. The government presented its proposal and the IMF came up with their suggestion. It seems that finally the IMF and the government has agreed on a responsible adjustment and signed off on it. It was always known that as the economy recovers and frows, and the revenue take improves that direct and indirect tax relief will follow. More to come as the economy keeps recovering an growing.
14 24
Wera Sunday, 15 September 2024 08:07 AM
These are not desperate moves but brilliant moves. Every single one of these decisions are well thought out planned and negotiated with the IMF and perfectly timed. You lot of NPP cheer leaders and the SJB are getting whipped well and truly aren't you? You never expected these decisions will come at this point of time.
5 1
Nihal Amarasekera Friday, 13 September 2024 05:58 PM
Another one. Desperate situations, desperate measures genuine or bogus.
22 69
Kirihami Friday, 13 September 2024 06:06 PM
The once impossible, rock-solid agreements with the IMF have suddenly become negotiable. Oh, what a fickle situation the desperate man finds himself in!
22 103
Raven Friday, 13 September 2024 09:41 PM
We have crossed the bridge, stupid. This was forecast in the last budget. Go read it.
27 9
Kirihami Saturday, 14 September 2024 10:42 AM
Thanks for the reply, and the honorific! BTW, have you got a mirror at home, "sir?"
0 8
Suhada malli Saturday, 14 September 2024 04:01 AM
the negotiation with IMF on tax revisions has started in Dec 2023. IMF made counter proposal. By the look of it what's been approved by the cabinette is the IMF proposed scheme. what no party is talking about is the introduction of wealth tax in 2025 after which VAT percentage can be reduced.
9 6
King Frog Like You Saturday, 14 September 2024 12:45 PM
Wealth tax was there over a long period. In 1977, it was abolished- That was to save the mutimillionaire' assets eg de Mel, Jayawardena, and the other guys in the cattle pen
0 5
Milton Friday, 13 September 2024 06:08 PM
Another election Gundu. The very reason the regime should change. Sleepless nights for the rulers.
21 81
Bruce Friday, 13 September 2024 06:09 PM
Tax concessions, lifting ban of vehicle imports and a whole lot of other benefits by the government on the verge of elections is a desperate and pathetic way to woo the voters, a violation of election laws and an undue advantage they have over other candidates and parties! Too little too late though RW and his proxies are about to be booted out!
22 91
Lankaputha Saturday, 14 September 2024 06:27 AM
Only to change one seat. Rest will swap and continue
1 6
Citizen Saturday, 14 September 2024 04:02 PM
100% true!
0 2
Sambo Friday, 13 September 2024 07:55 PM
Where is the IMF. As per RW nothing could be changed and if changed the country will go back to 2022. So now how are you doing these tax reductions were hard coded with IMF regulations. This cabinet is now expired and nothing what they is valid no more.
2 17
wickrama Wijayasiri Friday, 13 September 2024 07:56 PM
If all these are done by the cabinet and the Prez, why do we need a parliament??
2 19
Mahesh Friday, 13 September 2024 08:46 PM
I don’t think the right decision by the cabinet during the eve of elections. The aim is to bring down the next government
2 16
joshua Friday, 13 September 2024 09:03 PM
Thank you, but no vote for who is sitting with the Rajapakshes
2 16
Ruwini Friday, 13 September 2024 09:44 PM
Thank you, Ranil. The whole world is talking about this recovery.
11 8
DOT Friday, 13 September 2024 10:46 PM
Reckless action by cabinet not fit to lead the country
4 16
Soori Maripalan Friday, 13 September 2024 11:55 PM
These Kaalakanniyas have nothing to other than washing PINA back!!
2 22
Citizen Saturday, 14 September 2024 12:26 AM
Mr RW appreciate personal Income gains But one week before election approval for payment in 7 months time.?? i e to wait for 7 months to get this benefit
1 14
Kevin Saturday, 14 September 2024 02:20 AM
Someone is totally desperate. The government has busted its own IMF program. This is a violation of the election law. These decisions affect the election and must be stopped.
2 21
Go ahead and pay the higher rate of Income Tax Saturday, 14 September 2024 06:10 PM
Kevin! Go ahead and pay your income tax at the former rate. You are welcome to do that to help the nation. There are others in this page who think like you. You can all go and pay the higher income tax and prove your point to Ranil.
2 1
sugath Saturday, 14 September 2024 04:08 AM
Desperate times , desperate measures!
1 18
Ram P Saturday, 14 September 2024 04:55 AM
Why didn't Ranil Seeya and his children failed give these reductions earlier and giving now on the eve of the election? Ranil Seeya, You have gone nuts and knowing well that you will be sent home you attempt to woo the voters. Due to EC inaction I wonder if he is also behind you ?
3 14
Zak Saturday, 14 September 2024 05:26 AM
Well, RW’s lackey Badulla Gunawardena said two weeks ago if tax brackets are changed IMF will pull out and Sri Lanka will disappear from the world Map…
2 17
Sumal Saturday, 14 September 2024 06:38 AM
Ha Ha, how much we were shouting about stealing of our money. You guys did not listen until last minute. Now knowing the current situation you try to give relief next year. Can you give us stolen money which you pocketed and used to increase the salary of public servants targeting election? Anyway it is too late now and we have already decided to defeat you and make you 3rd in the race. Wait and see how private sector employees can influence media, social networks and election outcome.
2 17
Jaththiyanthara goonda Saturday, 14 September 2024 12:49 PM
Why 3rd place. There are 19 contestants. 39th place is the best.
0 8
Ravana Saturday, 14 September 2024 06:41 AM
If you had done this earlier, the moment you became president, you would've stayed as president. You bled the country more, the confidence we had in you is gone, forever. You took advantage of our plight, now pay the price.
3 22
Kusum M Saturday, 14 September 2024 07:00 AM
Oh my goodness this man is so desperate.
3 20
Details please Saturday, 14 September 2024 07:32 AM
What are the new tax brackets and percentages?
0 6
Roberta Flack Saturday, 14 September 2024 07:38 AM
Wow wow wow so beautifully timed RW. You are outdated and old that many young voters don’t fall for this. Such actions only show your insincerity with no conviction that it is the right thing to do other than to hold dearly on the POWER.
2 19
Shiran Saturday, 14 September 2024 07:52 AM
Try Rice from the moon. Sure victory. RW, you still have no empathy with the real poor.
2 14
Guppi Saturday, 14 September 2024 08:28 AM
With current tax, already looted us to the core. Now shove it in your a*s, you will have no power by then, to do anything.
2 13
Terrence K Saturday, 14 September 2024 08:43 AM
Empty promises which are in the horizon will never appease the employees some of whom have left for greener pastures because of the unbearable tax burden they were experiencing in their livelihoods. If you have a genuine interest of the employees of the private sector etc you need to implement this proposal immediately instead of keeping the employees in suspense because uncertainty is the hallmark of man's life. Act now and reap the fruits of victory or postpone and face disaster and regret at leisure!!!!!!!
3 6
Seeya Saturday, 14 September 2024 09:07 AM
So the revenue is going to be bridged by importation of vehicles. Next is Petrol / Diesel and Gas and say that the fuel prices in the world market has gone down. Shameful should have not done these idiotic taxations.
2 13
sam Saturday, 14 September 2024 09:53 AM
Ranilo election time is not the time to do this
1 13
Truth is bitter Saturday, 14 September 2024 10:50 AM
In my impartial assessment, it appears that Ranil has once again demonstrated that he fails to align his actions with his promises and has acted with considerable cunning. He lamented his inability to make adjustments to taxes due to the IMF agreement, despite the fact that the government exceeded its expected PAYE revenue with your blind tax reforms. As professionals, we understand that there was room to reduce taxes without overburdening middle-income earners. Unfortunately, Mr. President, you have let us down repeatedly, and this time too.
0 9
Balli Thovil Karaya Saturday, 14 September 2024 04:58 PM
Hope that he is the 39th vote. Best fag him in a pair of half split jeans and keep him at Kollupitiya junction. Attraction for the tourists.
0 0
dinesh Saturday, 14 September 2024 11:51 AM
even if you give 1 million tax concession people are not going to give you a vote.. enjoy for 1 more week...
0 11
KD Saturday, 14 September 2024 12:18 PM
They couldnt give these benefits before because country simply didnt have the surplus income to pay for these. It took 2 years to get to this point and also will only kick in 2025. If you stick to Ranil more benefits will come as country recovers. If AKD communist comes, goodbye IMF, goodbye dollars, economy will crash, no power, no fuel. Then much deeper crisis than 2022 which we will never recover from. So use your brains please.
11 7
Uranna de Jayathudasa Saturday, 14 September 2024 12:55 PM
KD Mr. Kate Dhanna Did you enjoy R's pen
5 6
Nihal D Saturday, 14 September 2024 12:53 PM
This is one week before the elections? Earlier they said no to tax relief referring to IMF. Salaries increased and tax reduced. How to balance? Do not trust this man and do not vote to Ranil.
1 7
GERIATRIC RETIREE WITHOUT PENSION - TAX PAYER SINCE 1974/1975.SINCE 1975. Saturday, 14 September 2024 01:09 PM
USELESS OFFER. THOSE WHO HAVE HAD INDIVIDUAL INCOME TAX FILES FOR 50 YEARS SHOULD BE EXEMPTED FROM IIT FOEVER MORE -IN THE FUTURE! THEY ARE ALL OVER 75 YEARS OF AGE AND WELL INTO RETIREMENT AND OLD AGE MEDICAL EXPENSES!
0 6
Ghost of Winston Churchill Saturday, 14 September 2024 03:05 PM
Last days of Pompeii. We will send you home for a well earned rest in your twilight years. Sayonara and thank you.Enjoy your pension with this new tax relief.
0 1
MAY THE LORD BE WITH THE WEAK AND CONFUSED ON VOTING DAY AND WHEN EACH ONE OF YOU CAST YOUR VOTE. Saturday, 14 September 2024 03:19 PM
WE HOPE THE MAJORITY DO NOT SWOLLOW THIS ELECTION SPIN AND STICK TO VOTING FOR A NEW PRESIDENT AND GOVT. DESPERATION KNOWS NO BOUNDRIES, THIS VINDICTIVE OLD SENILE PRESIDENT WILL SELL HIS SOUL TO HOODWINK THE PEOPLE. ALL THESE SPINS ARE A PART OF THE SECRET PLAN BEHIND A CLOSED DOOR PRIOR TO THIS FOX WAS APPOINTED BY GOTA AND NOT THE PEOPLE. RANIL IS HELL BENT TO TRY AND WIN THIS ELECTION AND LEAVE AS A PRESIDENT APPOINTED BY THE PEOPLE TO GET BACK AT ALL THOSE WHO SAY HE WAS UNELECTED, HE WILL REMAIN FOR A SHORT PERIOD AND HAND BACK TO A STOOGE OF THE RAJAPASKES AND THE COUNTRY AND ITS PEOPLE WILL FACE THE SAME MUSIC AS WE HAVE DONE THE PAST DECADES. DO NOT GET CAUGHT IN RANIL'S TRAP, BE SMART AND VOTE FOR A COMPLETE CHANGE, NEW YOUNG BLOOD WITH A WILL TO TAKE THE COUNTRY FORWARD AND THE POOR THIRD CLASS WILL BECOME EQUAL TO ALL.
0 3
Nishantha Saturday, 14 September 2024 04:27 PM
We all have a duty and opportunity to change our destiny. Since independence ‘family rule’ has governed our country with very little development to the people. The time has come to say enough is enough and make a change for the betterment of everyone. Let’s all unite and get rid of this corrupt lot once and for all.
0 3
Tissa Fernando Saturday, 14 September 2024 04:14 PM
Our Cabinet approves everything. I don’t think these fellows even understand what they are approving.
0 3
Anushka Saturday, 14 September 2024 04:35 PM
Gambling with economy to secure thier future : A good reason for NOT to vote either RW or his muppets.
1 3
Buddhist Saturday, 14 September 2024 06:21 PM
For repeatedly violating the orders of the Elections Commissioner, the entire cabinet should be brought before a presidential commission when the new government is formed, and all their civic rights must be removed. This is the only way no other cabinet would violate the constitution during an election time again.
0 3
B. Perera Monday, 16 September 2024 07:35 PM
Like many have said here, this is pure manipulation to garner votes days before the elction. All this time it was a different story, the burden of heavy taxes was happily passed on to masses. I sure will not vote for this person Ranil Wickremesinghe
0 2
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