The social security levy of 2.5% will be implemented from Saturday (01).
The State Minister of Finance Shehan Semasinghe stated that the price of certain goods may increase through this levy.
The State Minister said that the levy, which was passed in Parliament on 8th September, is expected to assist those who are in poverty and extreme poverty in Sri Lanka as a short term solution.
The tax is levied at a rate of 2.5 percent on the turnover of importers, manufacturers, service providers, wholesalers, and retailers with an annual turnover of more than 120 million.
