COLOMBO, Nov. 8 (Xinhua) -- Sri Lanka plans to further raise the threshold for Pay-As-You-Earn (PAYE) tax in the 2027 Budget, President Anura Kumara Dissanayake said on Saturday.
Speaking at the National Trade Union Conference in Colombo, Dissanayake said the government had previously increased the monthly PAYE tax threshold from 100,000 Sri Lankan rupees (about 301 U.S. dollars) to 150,000 rupees (about 452 dollars) and expected to raise it further in the upcoming budget.
He said the move would provide additional tax relief to salaried employees.
Dissanayake said the private sector makes a major contribution to the country's economy and that the government had paid particular attention to the economic conditions of private-sector workers.
He said basic salaries in the private sector had been increased following discussions with employers and business associations, while the government was also considering other forms of relief.
The president said the government has a responsibility to protect workers in the public, semi-government, plantation and private sectors and would continue to focus on their rights and economic security. ■