News

Circular to be issued on PAYE taxes

Published

1 year ago

January 9, 2023

editor

State Minister of Finance Ranjith Siyambalapitiya says that a circular will be issued by the Finance Ministry, prohibiting state and semi-government institutions from paying the PAYE tax of employees through the respective institutions’ funds.

The State Minister revealed that the relevant circular will be issued within this week.

The PAYE tax has been imposed as a tax to be paid to the government by individuals who earn an income beyond a certain limit, while some state institutions and semi-government institutions have previously been paying the relevant tax, Siyambalapitiya stressed.

Furthermore, he also emphasizes that such irregularities cannot be allowed in view of the current economic situation of the country.

“If anyone earns more than a certain limit, they are subject to the PAYE tax even if it is the government, semi-government or the private sector”, he said.

“But previously, especially in the semi-government sector and in corporations, we have experienced cases where the PAYE tax is paid by the relevant intuition itself under certain service agreements”.

“This is not the time for such inefficiencies”, he added.

The State Minister also expressed that a clear circular will be issued to all government and semi-government institutions preventing such tax payments, after clearly looking into the issue.

(adaderana.lk)

(Except for the headline, this story, originally published by adaderana.lk has not been edited by SLM staff)

News

China – SL to expedite implementation of MoUs

Published

15 mins ago

May 3, 2024

nipuni

Chinese Ambassador to Sri Lanka Qi Zhenhong had called on Prime Minister Dinesh Gunawardena at the Temple Trees in Colombo yesterday (May 02) to discuss ways and means of early implementation of the agreements and Memorandums of Understanding (MOUs) reached between the two countries during the Prime Minister’s official visit to China in March 2024.

The Prime Minister said the implementation of the MOUs would begin a new chapter in the long-term friendship and economic cooperation between Sri Lanka and China.

Secretary to the Prime Minister Anura Dissanayake had signed the agreements on behalf of Sri Lanka, and the secretaries of nine Ministries signed on behalf of China in the presence of Prime Minister Dinesh Gunawardena and Chinese Prime Minister Li Qiang.
During the talks with Ambassador Qi Zhenhong, the Prime Minister stated that in addition to implementation of the MoUs, Sri Lanka would also welcome direct private investments from China as well as investments in agriculture, renewable energy, IT, education and water supply sectors to provide long term solutions to economic issues.

Ambassador Qi Shenhong said he was pleased to see the resilience of Sri Lanka to overcome difficulties and assured China’s continuous support to Sri Lanka’s current efforts at debt restructuring and meeting economic challenges.

Prime Minister’s Secretary Mr. Anura Dissanayake and Chinese Economic Counsellor were also present at this meeting.

(Prime Minister’s Media)

BIZ

Laugfs Gas also slashes prices

Published

22 mins ago

May 3, 2024

nipuni

Laugfs Gas has also reduced its LP gas prices with effect from midnight today (May 03) following the price reduction by Litro Gas.

Accordingly, the price of a 12.5kg cylinder has been reduced by Rs.275 to Rs. 3,840 while the the price of a 5kg cylinder has been reduced by Rs.110 to Rs.1,542.

News

Damitha files complaint with HRCSL

Published

37 mins ago

May 3, 2024

nipuni

Sri Lankan actress Damitha Abeyratne has filed a complaint with the Human Rights Commission of Sri Lanka (HRCSL), alleging that her human rights were violated during an unlawful arrest.

On April 04, she and her husband were arrested by the Criminal Investigation Department (CID), over their involvement in an alleged financial scam of Rs. 03 million, promising employment in South Korea.

They were later granted bail on April 24, following an order issued by the Colombo Fort Magistrate’s Court.