Govt and IMF reach agreement to amend PAYE tax-President

August 28, 2024 05:32 pm

The Sri Lankan Government and the International Monetary Fund (IMF) have reached an agreement to amend the pay-as-you-earn (PAYE) tax, says President Ranil Wickremesinghe.

Speaking at a presidential election rally in Eheliyagoda, he stated that proposals from both parties are to be considered and that the exact amounts will be notified soon.

“Another issue is the pay-as-you-earn (PAYE) tax, which is a significant issue. The IMF and we (the government) have agreed that it needs to be amended. The preliminary decision has been taken. We have made one proposal, and the IMF has put forward another one. So, after discussing these two proposals, when we come to an agreement, we will announce the exact figure,” the President said.

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