Sri Lanka: Amendments to social security contribution levy enacted
New exemptions have been included by amending the First Schedule to the Act
New exemptions have been included by amending the First Schedule to the Act
The Social Security Contribution Levy (Amendment) Act No 15 of 2023 was certified by the Speaker on 8 September 2023, and certain new exemptions have been included by amending the First Schedule to the Act. For prior coverage read TaxNewsFlash.
The Act includes the following new or revised exemptions:
- Articles
- Any importation of motor vehicle identified under HS Codes which are liable to the excise duty under the Excise (Special Provisions) Act
- Equipment used by differently abled persons
- Unprocessed gemstones imported by a licensed holder, for the purpose of re-exporting such gems upon being cut and polished for payment in foreign currency, if such foreign currency is remitted to Sri Lanka through a bank
- Any article sold at duty-free shops
- Rice manufactured out of locally produced paddy
- Services
- Services provided by any general sales agent who holds an air transport service license issued under the Civil Aviation Act
- Generation of electricity and supply of electricity other than the supply of electricity by any person who holds a distribution license issued under the Sri Lanka Electricity Act
Read a September 2023 report [PDF 321 KB] prepared by the KPMG member firm in Sri Lanka
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