Sri Lanka to give extra tax credits for maternity leave: Budget2019
Mar 05, 2019 15:09 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT- Sri Lanka will amend labour laws and give tax extra tax credits to ensure greater participation of women in the economy with flexible work and tax deductions for maternity leave, Finance Minister Mangala Samaraweera said.
He said labour laws will be amended to allow flexible working conditions such as working from home.
Samaraweera said firms that give a woman employee a maternity leave of three months will receive an extra corporate income tax deduction worth 50 percent of the employee's salary .
If maternity leave is four months, an extra 100 percent of the employee's salary will be deducted from corporate income tax on the fourth month. The tax concession will remain for 5 years.
Firms offering five months of maternity leave will get deductions worth 150 percent of an employee's salary. (Colombo/Mar05/2019-SB)