The Withholding Tax charged on Fixed Deposit (FD) interest earnings less than Rs. 100,000 by senior citizens will be removed, effective from 01 January 2023.
Accordingly, the 5% Withholding Tax charged on interests earned below Rs. 100,000 by senior citizens from FDs will no longer be charged, State Minister of Finance Ranjith Siymabalapitiya said.
(adaderana.lk)
