Surcharge Bill to Parliament

It was proposed in the 2022 Budget to impose a 25% surcharge tax on individuals or companies earning an annual taxable income of Rs. 2,000 million or more.

However, making a special statement, Minister of Finance Basil Rajapaksa later assured that 11 funds including the EFP and the ETF will not be subjected to this surcharge tax.

He said that at no point did the government expect to include the EPF or ETF into this tax.

The lawmaker noted that there are 11 funds including the EPF and ETF and they never intended to include any of them into this tax surcharge.