Inland Revenue Bill to be tabled in House on Friday

Finance and Media Minister Mangala Samaraweera yesterday said that the proposed Inland Revenue Bill will be tabled in Parliament on Friday

He added that this Bill has 111 Amendments in addition to the Amendments recommended by the Supreme Court.

Minister Samaraweera added that his ministry is aiming at relieving the burden of the common masses by reducing the indirect tax.

“My State Minister and myself studied this proposed Bill in depth,” he said.

He added that those who earn less than Rs.1.2 million will not have to pay taxes.

The Bill, which is expected to replace the Inland Revenue Act No: 10 of 2006, has 111 Amendments as recommended by the Supreme Court.