Public Finance Data and Analysis
Free and Open Access to
SJB MP Dr. Harsha de Silva has proposed an alternative PAYE taxation system to address the emigration of professionals from the country. The proposal, developed after discussions with the Professionals Trade Union Alliance, aims to create a more favorable tax environment for professionals, without causing a loss to the treasury. Under the new scheme, taxes will be levied at rates ranging from 6% to 24%, with a surcharge for high earners. This reform is expected to raise Rs. 91 billion while easing the tax burden on middle-class professionals and potentially curbing the brain drain phenomenon. The SJB invites professionals to engage in discussions and plans to implement this tax scheme under a future government led by the party.
