The Opposition is totally opposed to levying a 25% tax on the EPF Fund, said Parliamentarian Eran Wickramaratne at a press conference held at the Opposition Leader's Office yesterday.
"This Government has decided in an unprecedented manner to impose a 25% surcharge on the income of the Employees Provident Fund. EPF has never been taxed in the history of Sri Lanka," he said.
He said that about 1.8 million members of the fund spend most of their retirement gratuity on their family needs after retirement.
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"Most employees deposit this money in a bank account and depend on its interest to meet the needs in retirement. The Yahapalana government decided to pay a maximum of 15% interest on the money in the accounts of these senior citizens with the intention of providing relief to those who have served the country."
Wickramaratne further speaking at the press conference said that the government seems to be raising issues that the country does not have in the face of crises it faces.