Economic Development Deputy Minister pledges solutions to PAYE tax concerns, professional exodus

Thursday, 16 January 2025 01:54 - - {{hitsCtrl.values.hits}}

Labour Minister and Economic Development Deputy Minister Prof. Anil Jayantha Fernando yesterday assured that the Government will prioritise addressing challenges faced by professionals related to the Pay as You Earn (PAYE) tax and growing trend of skilled workers leaving the country.

During a meeting with the members of the Professionals’ Trade Union Confederation held at the Finance Ministry, he highlighted the importance of identifying these issues and implementing solutions to retain professionals whilst formalising their contributions to national development.

Prof. Fernando acknowledged the pressing concerns of professionals along with providing their services to the country in a formal manner.

He also noted that alongside resolving these challenges, efforts will also focus on enhancing Government tax revenue by improving the efficiency of tax collection systems.

Prof. Fernando opined the need to balance the sustainability of revenue generation with the welfare and retention of the professional workforce both as components critical to driving economic growth and stability.

Private Secretary to the Minister of Finance and Planning and Economic Development Dilshan Chamikara, Banking and Finance Forum Convener Samira Alwis, and members of the Professionals’ Trade Union Confederation participated in this event.