President Anura Kumara Dissanayake has announced that the Pay-As-You-Earn (PAYE) tax threshold will be revised through the 2027 Budget, which is scheduled to be presented to Parliament next week.
He made the announcement while addressing the National Trade Union Convention today.
Highlighting the private sector's significant contribution to the national economy, the President said the Government had given special attention to the economic well-being of employees in the sector.
He stated that the Government had taken steps to increase basic salaries following discussions with private-sector institutions and business associations. Attention had also been given to employees' additional allowances and PAYE tax deductions affecting higher-income earners.
President Dissanayake noted that the existing PAYE tax threshold had previously been increased from Rs. 100,000 to Rs. 150,000. He said the Government expects to raise it further through the upcoming Budget to provide additional tax relief to employees.
The President also emphasised that the Government has a responsibility to protect employees across all sectors, including the public, semi-government, plantation and private sectors.
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