Srilanka, April 2 -- Those earning up to Rs.150,000 monthly exempted : Annual taxable income increased to Rs.1.8 Mn:

The income tax exemption threshold for individuals earning over Rs.100,000 per month has been raised to Rs.150,000 effective from yesterday (1).

The Inland Revenue Department said that raising the tax exemption threshold in this manner will provide tax relief to numerous individuals, particularly those with lower incomes.

This initiative proposed by President Anura Kumara Dissanayake, in his capacity as the Finance Minister to raise the income tax threshold by Rs.50,000 during the inaugural budget of the NPP Government has been implemented as of yesterday (1). The tax revision is being implemented in accordance with the...