Friday, 29 May 2020 08:14

Assessment Tax to remain unchanged for two years

The Cabinet yesterday approved maintaining Assessment Tax without change for the next two years, an official said.

Cabinet approved a Cabinet paper presented by Public Administration, Home Affairs, Provincial Councils and Local Government Minister Janaka Bandara Tennekoon delaying issuing Assessment Tax based on new estimates to provide relief to the public already hit by the COVID-19 outbreak.

“Due to assessment tax not being changed in the past five years and increase in property values if Assessment Taxes are updated then they will increase by a substantial amount all that once. The public may not be able to meet such a steep payment given the hardships they are already facing. Therefore it was decided that the current Assessment Tax rates will not be changed for two years,” Cabinet spokesman Bandula Gunawardena said.
(FT)

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