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* Sri Lankan President orders to remove taxes on loan interests of financial sector employees
Tue, Jul 22, 2014, 11:29 am SL Time, ColomboPage News Desk, Sri Lanka.

July 22, Colombo: Sri Lankan President Mahinda Rajapaksa has decided to abolish taxes imposed under the 1857/8 special gazette notification.

The President ordered to remove the taxes imposed on employees of state and private banks, financial institutions, and other profit/loss institutions including insurance agencies under the Special Gazette 1857/8.

Accordingly, taxes imposed on the interests on housing loans, distress loans, vehicle loans, overtime allowances of employees of private and public banks, financial institutions, insurance institutions, etc. will be removed.

The President had made the decision following a meeting with the representatives of the Bank of Ceylon Employees' Union Monday evening at Temple Trees.

(Photos by Nishanka de Silva)

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