Published On: Fri, Nov 10th, 2017

Taxes on transactions carried out by banks

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Finance Minister Mangala Samaraweera said that a tax is levied on all transactions conducted by the banks. The following is the budget proposal.

“We have to pay Rs. 1.9 trillion for repayment of loans for the year 2018. We can not pay this debt alone. It is not ready to give the burden to the people. ”

“A special repayment tax on an interest rate of Rs. 1,000 to 20 per transaction for all transactions with effect from 1st April 2018 will be a Medamul Tax.”

“This is clearly a temporary tax. This will only take three years. We will not allow customers to charge this. “

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Taxes on transactions carried out by banks