New property tax to be introduced in 2025

October 29, 2023 07:30 pm

State Minister of Finance Ranjith Siyambalapitiya has revealed that it has been planned to introduce a new property tax from 2025.

Accordingly, plans have been prepared for the introduction of the relevant tax in the year 2025, in accordance with the recommendations made by the International Monetary Fund (IMF), he said.

Explaining the matter further, the State Minister revealed that the new property tax is expected to be levied on individuals who own large amounts of property.

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