The modified personal earnings tax rates will be charged from taxpayers with result from today (Jan.

01), in a bid to increase government income.According to the tax policy, those who earn a month-to-month earnings of Rs.

150,000 and above will be taxed, nevertheless, those who earn less than Rs.

100,000 a month will not be taxed.Accordingly, a tax of Rs.

3,500 per month will be imposed on people with a month-to-month earnings of Rs.

150,000.

Those who earn Rs.200,000 per month will be charged a regular monthly income tax of Rs.

10,000, while Rs.

21,000 will be charged each month from a private with a regular monthly income of Rs.

250,000.

If the monthly income earned is Rs.

300,000, the income tax payable is Rs.

35,000.

At the same time, Rs.

52,500 will be taxed from those who are earning Rs.

350,000 a month.

Meanwhile, Rs.

70,500 will be taxed for a specific with a regular monthly income of Rs.

400,000.

For those who make Rs.

500,000 a month, Rs.106,500 tax is payable while a private with Rs.

750,000 income will be taxed Rs.

196,500.

Additionally, an individual with a regular monthly earnings of Rs.

1 million will be taxed Rs.

286,500.

This short article first appeared/also appeared in https://adaderana.lk