Sri Lanka's new Inland Revenue Bill was passed in parliament today with 100 voting in favour of it and 41 against.
The initial bill had to be revised after the country's Supreme Court ruled that certain aspects were at odds with the constitution.
Welcoming the bill, Sri Lanka's finance minister, Mangala Samaraweera said it was founded on four points - “burden proportionate to ability to pay, certainty, convenience and efficiency of collection”. He urged everyone to pay as much income tax as possible if they loved their country.
The new provisions regarding income taxes would come into effect on October 30 and the legislation would be implemented fully from April 2018.
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