P.A.Y.E. (Tax on Employment Income)

  • PAYE rate schedule will be revised in line with the personal income tax rates
  • All the exemptions applicable on various categories will be removed.
  • The tax free threshold of 100,000 per month will be available for every employee on their employment income.
  • The income from the secondary employment up to Rs. 50,000 per month will be liable for PAYE at 10 percent and if it is more than Rs. 50,000, the tax will be at the rate of 20 percent.
  • The PAYE of the employees of state owned enterprises and other government institutions should be deducted from the employees‟ emoluments and should not be paid by the institution.

Leave a Reply

Your email address will not be published. Required fields are marked *