Finance Ministry sources say that the government will introduce a new tax from the year 2025.
State Minister Ranjith Siyambalapitiya, who commented further on this, said that the government hopes to introduce a new tax called property tax. “The new tax primarily targets people with substantial real estate assets. These people will have to pay a tax based on the value of their properties,” the state minister stressed.
The State Minister also said that this new tax is going to be imposed based on the recommendations made by the International Monetary Fund (IMF).