Press briefing of Cabinet Decision taken on 2017-05-02

The New Inland Revenue Bill

- In accordance with the Budget proposal of 2016 measures have been taken to re-draft the Inland Revenue Act making it simple and compatible with modern trends. Accordingly, the proposal made by Hon. Ravi Karunanayake, the Minister of Finance to publish the New Inland Revenue Bill drafted by the Legal Draftsman to publish it in the Government Gazette and subsequently, present it in Parliament for approval, was approved by the Cabinet.