Social Security Contribution Levy Bill passed

The second reading of Social Security Contribution Levy Bill has been passed in the parliament with a majority of 81 votes.

Announcing the results of the division, Speaker Mahinda Yapa Abeywardena said a total of 91 parliamentarians had voted for the Bill while 10 voted against.

At the third reading or the committee stage of the Bill, it was passed with amendments.

The debate on Bill was taken up for debate in the parliament today (Sep 08).

In Budget 2022, the Social Security Contribution Levy Bill was introduced 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 percent upon the annual turnover is Rs. 120 million on taxable turnover of importers, manufacturers, service providers and wholesale traders and retailers.

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