The Inland Revenue Department yesterday said that four tax revisions, including the 25 percent surcharge on the income of tobacco and alchohol companies came into force from yesterday.
The government has estimated a revenue of Rs.9,200 million from Nation Building Tax and 25 per cent surcharge imposed on Casino, tobacco and alchohol companies. Finance Minister Ravi Karunanayake said that a revenue
of Rs. 9,000 million is expected from the Nation Buding Tax while a tax revenue of Rs.2,000 million is expected from the surcharge imposed on casino, tobacco and alcohol companies. The Value Added Tax proposed by the 2016 budget under three categories were also in force from yesterday.
The Government also expects an income of Rs. 90,000 million from the Nation Building Tax.
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