Budget 2022 proposed a Social Security Contribution (SSC) tax to rebuild the Sri Lankas Economy from the COVID- 19 pandemic. SSC is charged at 2.5% on an annual turnover exceeding LKR 120 million. This tax is propsed to be in effect from April 2022. The government is expecting to raise LKR 140 billion through this proposal. However, this number is over estimated.
Refer the Public Report on Budget 2022 for an indepth analysis.