• Only persons who currently receive a net income of Rs. 100,000 per month are liable to pay income tax

By Chaturanga Pradeep Samarawickrama  

Although obtaining a Taxpayer Identification Number (TIN) is mandatory for all persons over 18 years of age, there is a legal provision to impose a fine of Rs. 50,000 on those who do not comply, but it will not be implemented for the moment, Finance State Minister Ranjith Siambalapitiya said.  

Addressing a meeting in Ruwanwella he said that even though certain decisions were taken by the government considering the future of the country and to increase government revenue, it is not the government’s intention to put pressure on the people.  

Even though it is mandatory to open a tax file and obtain a number, it does not mean that all of them have to pay tax, the Minister said.  
Only persons who currently receive a net income of Rs. 100,000 per month are liable to pay income tax, Minister Siyambalapitiya said.