Govt., IMF agree to revise PAYE tax: President

Thursday, 29 August 2024 02:06 - - {{hitsCtrl.values.hits}}

President Ranil Wickremesinghe yesterday announced that the Government has reached an agreement with the International Monetary Fund (IMF) to revise the Pay As You Earn (PAYE) tax, which has become a significant concern for the public.

Addressing a political rally in Eheliyagoda, he assured that relief measures would be implemented immediately following discussion with the IMF.

“Pay as You Earn (PAYE) has become a major problem today and needs to be revised,” Wickremesinghe said. “We have already submitted a proposal and they (IMF) have also presented their suggestions. Once we discuss and reach a final agreement, we will provide relief to the people.”

The President stressed that the Government understands the struggles faced by the public and is committed to providing relief while ensuring the stability of the economy.

Wickremesinghe stated the importance of maintaining a robust economic foundation to create a country where everyone can live comfortably, warning that economic collapse would leave nothing behind for the people.