Parliament to debate Social Security Contribution Levy Bill tomorrow

Wednesday, 7 September 2022 00:50 - - {{hitsCtrl.values.hits}}

Although the Social Security Contribution Levy Bill was supposed to be passed without a debate in Parliament yesterday it was decided to hold the said debate tomorrow as Members of Parliament indicated that a debate was necessary.

This decision was arrived at because Jathika Janabalawegaya Leader Anura Dissanayaka and SJB MP Dr. Harsha de Silva, requested the Speaker to take it into debate given that amendments have been submitted for the said Bill.

The Committee on Parliamentary Business previously decided to pass the Social Security Contribution Levy Bill yesterday without debate in Parliament.

Accordingly, the adjournment debate on the mid-year fiscal position report for the year 2022, which was scheduled to be held tomorrow, will be held on a later day.

Budget 2022 introduced the Social Security Contribution Levy Bill as a measure to raise Government revenue and rebuild the economy hit by the COVID-19 pandemic. This tax is levied at the rate of 2.5% upon which the annual turnover is Rs. 120 million on taxable turnover of importers, manufacturers, service providers, wholesalers and retailers.