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Friday, 24 November 2017 - 14:53
Finance Minister says 'system was changed'
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Finance Minister Mangala Samaraweera says income taxes will be decided through a new formula which has been designed with the implementation of the new Inland Revenue Act.
 
The Minister said during a seminar held in Matara today (24).
 
He said the revenue coming from direct taxes is only 19% and it should be amended.
 
The Minister said instead of taxing the common man, the new Act is looking at broad-basing the direct tax collection.

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