Press briefing of Cabinet Decision taken on 2022-01-31

Submission of the Surcharge Tax Bill to Parliament for Approval

- It has been proposed through the Budget - 2022 to impose one-time Surcharge Tax of 25% on persons or companies with taxable income over Rs. 2,000 million for the assessment year 2020/2021. Clearance of the Attorney General has been received to the Surcharge Tax Bill prepared accordingly by the Legal Draftsman. As such, the proposal made by the Minister of Finance to publish the said Bill in the Government Gazette and submit the same thereafter in Parliament, was approved by the Cabinet.