News
Kabir Hashim warns new taxes might have devastating consequences on industries
By Rathindra Kuruwita
The proposed new taxes might have devastating consequences on Sri Lankan industries, Samagi Jana Balavegaya (SJB) MP Kabir Hashim warned yesterday.
The highest income earners would have to pay 36 percent of their income as taxes, he said.
“Small and medium enterprises have to pay between 14 to 30 percent of their income as taxes. Earlier, the export sector companies paid 14 percent as tax, now it has increased to 30 percent,” he said.
People who make over 1.5 million rupees a year will be taxed under the proposed taxes. The earlier threshold was three million, he said.
Meanwhile, SJB MP Harsha de Silva said that the government needs to discuss and evaluate the proposed taxes before implementing them.