(LANKAPUVATH | COLOMBO) – Equipment used by people with special needs and local paddy production are exempted from the Social Security Contribution Levy (SSCL), Finance State Minister Ranjith Siyambalapitiya says.
He communicated this in a post on social media platform X, formerly known as Twitter, today (Sept. 06).
The announcement comes after the Social Security Contribution Levy (Amendment) Bill was considered and approved by the Committee on Public Finance (COPF) at its meeting on Tuesday (Aug. 05).
A statement from Parliament’s Communication Department said the Bill intends to amend the said Act to exempt any motor vehicle liable to the excise duty under the Excise (Special Provisions) Act, No. 13 of 1989 on the importation in considering excise duty is a composite tax introduced to simplify the tax structure, previously included in the Act.
It further read that the Bill also intends to exempt equipment used by people with special needs to lower the tax burden on such persons, rough unprocessed gemstones imported for re-exporting after cut and polishing to maintain the competitiveness of such Sri Lankan business in the global market by lowering the tax burden and any items sold at duty-free shops, similar to other import taxes.
Meanwhile, in February 2023, the Cabinet of Ministers gave the nod to amend the Social Security Contribution Levy to exempt the purchasing of paddy, and the production and sale of rice from the tax.
