header logo
Asia asset finance
Mogo Academy
Latest
Speaker conveys SC’s determination on petition against Inland Revenue (Amendment) Bill
Nov 17, 202210:43 AM
Speaker conveys SC’s determination on petition against Inland Revenue (Amendment) Bill
Mobitel Inner

The amendments proposed by the Attorney General for the Inland Revenue (Amendment) Bill should be included at the committee stage before the Bill is passed, Speaker Mahinda Yapa Abeywardena told the parliament today (Nov. 17).

 

He stated this conveying the determination of the Supreme Court on the petition challenging the Inland Revenue (Amendment) Bill.

 

An application challenging the Inland Revenue (Amendment) Draft Bill was filed before the Supreme Court on Oct. 27.

 

A general manager of an apparel factory by the name U.S. Ranaweera, residing in Homagama area, had put forward the said application, naming the Attorney General as its respondent.

 

The draft bill was published in the government gazette on October 12. The special gazette was issued by the Minister of Finance, Economic Stabilization and National Policies to amend the Inland Revenue Act, No.24 of 2017.

 

According to the draft proposal, it was decided to impose taxes on people based on different income-earning criteria.

 

If passed in parliament, the proposed bill will revise a number of levies and will further empower the Inland Revenue Department as the primary agent for collecting taxes and dealing with issues arising with taxes on behalf of the government.

 

The petitioner alleges that the government has reduced the minimum taxable income of a person from Rs. 250,000 to Rs. 100,000, placing a heavy tax burden on the general public already hit hard by the ongoing economic crisis.

 

The new income tax proposals discourage many sectors in the country including exports, local industries and developmental activities, the petitioner pointed out.

 

The petitioner alleged that the proposed income tax changes in the Inland Revenue (Amendment) Draft Bill are a serious violation of the government’s obligations to guarantee social security and ensure public welfare, pursuant to the Constitution.

 

The petitioner, noting that Articles 14, 16, 22, 29, 36 and 39 are unconstitutional, requested the Supreme Court to determine that the draft bill should be passed by a two-thirds majority in the parliament and a public referendum.

 

 

 

MostRead
Mobitel Upahara
VideoStories
 Prices of multiple food items reduced from midnight today

Prices of multiple food items reduced from midnight today

Several farmers continue protests, demanding fair guaranteed paddy prices

Several farmers continue protests, demanding fair guaranteed paddy prices

Dengue cases continue to spike across several districts of the island

Dengue cases continue to spike across several districts of the island

Former Navy Commander Wasantha Karannagoda granted bail on two surety bonds

Former Navy Commander Wasantha Karannagoda granted bail on two surety bonds

Rakitha Rajapakshe, Charith Abeysinghe and another further remanded until July 17

Rakitha Rajapakshe, Charith Abeysinghe and another further remanded until July 17

Opposition Leader accuses Govt. of failing to honour its election promises

Opposition Leader accuses Govt. of failing to honour its election promises

Agriculture Minister vows to implement all possible measures to address farmers' concerns

Agriculture Minister vows to implement all possible measures to address farmers' concerns

 Court orders ex-SIS chief Suresh Sallay to provide Phone and laptop passwords to CID

Court orders ex-SIS chief Suresh Sallay to provide Phone and laptop passwords to CID

Bus fares increased from midnight on July 5 : Minimum fare raised to Rs. 34

Bus fares increased from midnight on July 5 : Minimum fare raised to Rs. 34

32 dengue related deaths reported this year : Public not taking situation seriously

32 dengue related deaths reported this year : Public not taking situation seriously

Sarvajana Balaya leader meets farmers in Medirigiriya : Farmers raise concern over paddy prices

Sarvajana Balaya leader meets farmers in Medirigiriya : Farmers raise concern over paddy prices

“Dengue-related deaths could increase” Health Ministry sets up Dengue Operations Centre and Hotline

“Dengue-related deaths could increase” Health Ministry sets up Dengue Operations Centre and Hotline

No reduction in tuk, school transport service fares despite yesterday's fuel price revision

No reduction in tuk, school transport service fares despite yesterday's fuel price revision

 Seventh IMF review under EFF program in Sept. IMF calls for exchange rate flexibility in Sri Lanka

Seventh IMF review under EFF program in Sept. IMF calls for exchange rate flexibility in Sri Lanka

“Catholic Church influenced Easter Sunday probe” Global Sri Lankan Forum demands independent team

“Catholic Church influenced Easter Sunday probe” Global Sri Lankan Forum demands independent team

Lassana Flora