The Social Security Contribution Levy Bill was passed in Parliament this evening (8) with amendments with a majority of 81 votes.
Leader of the National People’s Power MP Anura Kumara Dissanayake called for a vote following the conclusion of the debate on the second reading of the Social Security Contribution Levy (Amendment) Bill.
Accordingly, 91 votes were cast in favour while 10 votes were cast against.
Amendments were included to the bill at the Committee Stage, while the third reading was passed without a vote.
The 2022 Budget introduced the Social Security Contribution Tax as a measure to raise government revenue and rebuild the economy that was affected by the COVID-19 pandemic.
The tax is levied at the rate of 2.5 percent upon an annual turnover of Rs.120 million on taxable turnover of importers, manufacturers, service providers and wholesale traders and retailers.
The expected annual revenue from the tax is Rs.140 billion.
The Bill was published in the Gazette on the 21st of June 2022 and was tabled in Parliament on 06th July 2022 by the Minister of Finance.