Home / BUSINESS / New Inland Revenue Act to be tabled in parliament in August

New Inland Revenue Act to be tabled in parliament in August

Minister of Finance and Mass Media Mangala Samaraweera says that the new Inland Revenue Act is expected to be presented to Parliament and get it passed in the third week of August.

The Minister said the amendments brought by the Supreme Court and the amendments expected to be brought in Parliament will be included in the bill.

This was stated at a media conference held at the Ministry of Finance today (21).

The Minister said the main objective of the new Inland Revenue Act is to reduce the indirect taxes levied from the people from 80% to 60% and increase the direct taxes from 20% to 40% within three years.

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