Inland Revenue Achieves 52% Of Annual Tax Target

COLOMBO (News 1st): The Department of Inland Revenue stated that it has achieved 52% of its annual income tax target so far.The annual revenue target is 2,401 billion rupees.The Department of Inland Revenue stated that 1,255 billion rupees have been collected to date.The Department further stated that this represents a 117% progress compared to the previous year.Meanwhile, the annual turnover threshold for the Social Security Contribution Levy (SSCL) has been reduced from 60 million rupees to 36 million rupees, effective from today.The Inland Revenue Department noted that the relevant legislation was passed recently.