Finance Minister Dr.Ranjith Siyambalapitiya has asserted that the proposed Property tax will come into effect after the first quarter of 2025 and will not affect 90 percent of the general public.
Speaking to the media in Ruwanwella area this morning, the Minister said that this is a very progressive tax system, which is being implemented in many countries of the world and that this tax was implemented even when Mr. N.M. Perera was the Finance Minister.
Also, after the implementation of this tax, the amount of indirect tax levied on the common people can be reduced in future and thus 100% people can enjoy the benefit of this tax, the minister said.
