Sri Lanka raises PAYE tax free allowance, loan relief to small defaulters
Thursday January 29, 2015 15:32
COLOMBO (EconomyNext) – Sri Lanka will raise the tax free allowance of pay-as-you-earn (PAYE) tax to 750,000 from the current 600,000 finance minister Ravi Karunayake said.
Defaulted farmer who lost crops will get a 50 percent write off on loans up to 100,000.
Gold loan defaulters will be given an interest write off on a capital value of up to 200,000.