Sri Lanka to charge debit tax bank withdrawals, ‘easy cash’

ECONOMYNEXT – Sri Lanka will charge a tax of 5 rupees for every 10,000 rupee transaction made by banks and financial institutions, a budget for 2017 said.

It amounts to a debt tax of 0.05 percent.

It will apply to transactions at financial institutions including ‘easy cash’ the budget said.

The ‘Financial Transaction Levy’ will be deductible for income tax.
 

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