Government seeks to collect Rs 140bn from Social Security Contribution

Aiming to rebuild Sri Lanka’s economy affected by the Covid pandemic, a “Social Security Contribution” has been proposed by the Finance Minister.

This contribution will be charged at 2.5 percent on the annual threshold turnover exceeding Rupees 120 million.

Rupees 140 billion is expected as revenue through this contribution. This will be effective from 01 April 2022.