The Ministry of Finance, Economic Stabilization & National policies of Sri Lanka 🇱🇰 has issued a clarification regarding the proposed

The Ministry of Finance, Economic Stabilization & National policies of Sri Lanka 🇱🇰 has issued a clarification regarding the proposed imputed rental income tax:

⭕ The tax focuses on high-wealth individuals, not average income earners.

⭕A suitable tax-free threshold will ensure only high-value properties or multiple properties owned by wealthy individuals are taxed.

⭕ The design of the tax will ensure appropriate set off mechanisms to avoid double taxation and any elements that distort economic incentives.

⭕ Expected Yield: The tax aims to contribute 0.2% of GDP by 2025 and 0.4% by 2026.