Property tax will come into effect after first quarter of 2025

Colombo, June 22 (Daily Mirror) - The proposed property tax will come into effect after the first quarter of 2025 and will not affect 90% of the ordinary people, Finance State Minister Ranjith Siyambalapitiya said.

He made this statement while addressing the media in the Ruwanwella area this morning.

The Minister said this tax is implemented in many countries worldwide and was previously introduced by former Finance Minister N.M. Perera. He described it as a very progressive scheme.

Following the implementation of this tax, it will be possible to reduce the amount of indirect tax levied on the common people in the future, allowing everyone to benefit from this tax.