State Minister of Finance Ranjith Siyambalapitiya says the proposed property tax will help boost the revenue of the government.
Siyambalapitiya noted that it will be implemented only after a thorough analysis in 2025.
The State Minister also assured that common people will not be affected by the new tax as it will be imposed only on individuals who own substantial amounts of property.
He added that it is being prepared considering the recommendations made by the International Monetary Fund.
