Saturday, 10 May 2025
No tax on cash withdrawals from banks

No tax on cash withdrawals from banks Featured

Prime minister Ranil Wickremesinghe has agreed to amend several proposals contained in budget 2016, said state minister Dilan Perera.

Speaking to the media at the parliamentary complex today (18), Perera said the agreements came at a meeting the SLFP ministers had with the PM.

Among the agreements reached is the continuation of leasing facilities from banks, he said.

Also, the proposal to tax money withdrawals from banks will not be implemented.

The budget had proposed a two per cent tax on withdrawals between Rs. 01 million and Rs. 10 million, and a three pc tax for anything above.

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