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Social Security Levy Bill debate tomorrow

06 Sep 2022

Although the Social Security Contribution Levy Bill was supposed to be passed without a debate in Parliament yesterday (6), it was decided to hold the said debate tomorrow (8), as MPs indicated that a debate was necessary.  This decision was arrived at because Janatha Vimukthi Peramuna (JVP)-led National People’s Power (NPP) Leader Anura Kumara Dissanayaka and Samagi Jana Balawegaya (SJB) MP Dr. Harsha de Silva requested the Speaker to take it up for debate, given that amendments have been submitted for the said Bill. Accordingly, the adjournment debate on the mid-year fiscal position report for 2022, which was scheduled to be held tomorrow (8), will be held on a later day. The Committee on Parliamentary Business previously decided to pass the Social Security Contribution Levy Bill yesterday (6) without debate in Parliament. Budget 2022 introduced the Social Security Contribution Levy Bill 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% for companies whose annual turnover is Rs. 120 million, on taxable turnover of importers, manufacturers, service providers, and wholesalers and retailers.  

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