First property will be exempted from Imputed Rental Income Tax: President

Upulpb Tuesday, 18 June 2024 02:22 PM

Backtracking as usual after the backlash. We are no fools

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Man Tuesday, 18 June 2024 03:00 PM

Nothing as such in the agreement with the IMF.

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Sokrates Tuesday, 18 June 2024 03:38 PM

This is not justified. All crooks who own a palace are then exempt from tax. Of course, Ranil is thinking primarily of the Rajapaksa Mafia clan, its acolytes and his friends in the business world. Ranil has shown often enough since taking office that he doesn't care about ordinary or poor citizens. Tax exemptions can only be granted if the property is worth less than a certain amount, for example less than one million rupees. This threshold must apply to all properties combined. Anyone who owns property worth more than one million rupees must also explain where the money for it comes from. If someone cannot do this, the properties will be auctioned off for the benefit of the general public.

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kanishka Tuesday, 18 June 2024 03:58 PM

will this apply to the non tax paying doctors who own apartments' in all the high end condominiums (after obtaining free education at tax payers expense)

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sam Tuesday, 18 June 2024 04:06 PM

First property exemption was not mentioned earlier

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wickrama Wijayasiri Tuesday, 18 June 2024 05:18 PM

NO! It is wrong. Rental all income should be taxable. The tenant should be able to use the expense as an expense according to the tax code. Profits made from real estate sales also should be made taxable with limits set by the tax code.

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Volker Metzger Tuesday, 18 June 2024 06:58 PM

The tax chaos under Ranil continues, this government is miles away from tax justice!!! The fact that the rich should contribute far more to rescue the people from the economic disaster caused by the government is a realization that only occurs to those responsible when they want to get out of the noose shortly before their political death sentence!!! Everything in the case of Wickremesinghe is a futile effort, his time has inevitably run out!!!

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Volker Metzger Tuesday, 18 June 2024 06:58 PM

The tax chaos under Ranil continues, this government is miles away from tax justice!!! The fact that the rich should contribute far more to rescue the people from the economic disaster caused by the government is a realization that only occurs to those responsible when they want to get out of the noose shortly before their political death sentence!!! Everything in the case of Wickremesinghe is a futile effort, his time has inevitably run out!!!

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Joshua Tuesday, 18 June 2024 07:46 PM

All this fellow's commitment to IMF will not be implemented by the new president. The little votes he had will also vaporise due to his stupidity of playing together with the Rajapakshe rogues.

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GERIATRIC IIT [INDIVIDUAL INCOME TAX] PAYER SINCE 1975 Tuesday, 18 June 2024 11:24 PM

What a fuss with IGNOARANT CITIZENRY! The Public [most citizens] do not know the Taxes already being Paid by GENUINE Individual Income Tax Payers. Until two years ago, NAV [Net Annual Value] of all residential properties owned by the Tax Payer were added on to Assessable/Taxable Income - with one house exempted- and ALL those who held Tax Files paid Income Tax on that Amount. TAX EVADERS ARE NOT KNOWLEDGEABLE IN THIS REGARD.

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