COLOMBO (News 1st); It was revealed in Parliament on Wednesday (7) that the Social Security Contribution Levy Bill that was produced to the house was marred with errors.Although the Bill was supposed to be passed without a debate in Parliament on Tuesday (06), it was decided to hold a debate Thursday (8) as Opposition Members indicated that a debate was necessary.A Social Security Contribution Levy Bill was proposed in the 2022 Budget presented by then-Finance Minister Basil Rajapaksa.This tax is to be levied at the rate of 2.5 percent upon the annual turnover is Rs.
120 million on the taxable turnover of importers, manufacturers, service providers, and wholesalers, and retailers.On Tuesday (6) NPP Leader Anura Kumara Dissanayake and SJBs Dr.
Harsha De Silva pointed out that the Social Security Contribution Levy Bill aims to impose a tax in addition to the already existing VAT.Concerns were raised in Parliament on Real Estate being omitted from the Social Security Contribution Levy Bill.Dr.
Harsha De Silva, and SJB MP told the Parliament that on Tuesday, he was contacted by officials from Parliament and the Treasury and informed about an error, noting that that Read Estate was not taken off the Social Security Contribution Levy Bill. "They said it was an error during the translation process.