Local Income Tax Act accounted for a total amendment!

Local Income Tax Act accounted for a total amendment!

2 December 2019 03:03 pm

The local income tax act would be accounted for a total amendment, Minister of Information and Communication Technology, Higher Education, Technology and Innovation Bandula Gunawardena said. 

The process in accordance with the new amendment would be simple from filing the form to bottom, the minister said, pointing out that people would be able to self-assess and pay their taxes. 

Meanwhile, according to macroeconomic management, the budget gap can be kept at 5% or less so no one should worry about tax cuts, the minister said.
The process would allow conversion of the government expenditure into cost effective, he added.