Sweeping changes in income tax system from April 1
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Sunday, 18 March 2018 20:05
Enhanced fines and penalties, including an increase in jail terms, and new areas of taxation, are among the highlights of the new Inland Revenue Act to be implemented from April 1, a senior official said. The Inland Revenue Department’s Deputy Commissioner General, Nadun Guruge, told the Sunday Times there would be key changes relating to income tax to achieve the Government’s target of Rs. 800 billion a year.
