The Government intends to introduce the proposed Property Tax in 2025, State Minister of Finance Ranjith Siyambalapitiya said.
Speaking to the media, the State Minister said the Property Tax will be imposed on persons owning a large number of properties.
Stating that a thorough study is being conducted in this regard, the State Minister said that the tax will be introduced in a manner that does not affect the ordinary citizen.
Through this tax, the local government institutions will be strengthened and the common people will benefit from it, he added.
The State Minister of Finance further said the Government has no plans to introduce new taxes which will result in the cost of essential items going up. (NewsWire)