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Sri Lanka starts million rupee ‘mansion’ tax, emigrants to be taxed

COLOMBO (EconomyNext) – Sri Lanka will introduce an annual tax of one million rupees on ‘mansions’ valued over 100 million rupees or 5,000 square feet, finance minister Ravi Karunanayake said.

The property tax will also be applicable to apartments, he said.

A 20 percent tax will also be levied on money being taken out by those migrating out of the country.