The Commissioner General of Inland Revenue has published a notice pertaining to changes proposed in the Budget 2021 to the Inland Revenue Act, No. 24 of 2017. These changes mainly relate to the following:
- Exemptions from Income Tax
- Tax rate changes
- Tax computation, deductions and qualifying payments
- Tax administrative measures
- Other proposals
- Tax relief measures to facilitate post Covid-19 economic recovery
The law pertaining to the above is yet to be enacted.
