Taxes will be levied on provident funds of more than Rs. 700,000
Occurred in Sri Lanka on July 20, 2021 at 9:30 a.m.
Reported by Saahithiyanan Ganeshanathan via Internet on July 23, 2021 at 1:50 p.m.
Reported by Saahithiyanan Ganeshanathan via Internet on July 23, 2021 at 1:50 p.m.
# government
# tax
This report is Confirmed false
and is of
Low Priority.
Here is why -
Under the Employees Provident Fund Act as amended in 1958 and that no proposal has been received on the subject of levying taxes. Therefore, the news that a tax of 14% will be levied if the provident fund is more than Rs. 700,000 is false.
Resolution added by - Saahithiyanan Ganeshanathan