The Inland Revenue Department (IRD) has released information on withholding tax imposed by the government.

The Department has issued a detailed report with regards to the amount that need to be paid as tax according to the monthly income.

They said that every Rs. 100,000 earned as income will be subject to withholding tax.

However, the government had recently revoked the payment of taxes by employees through the funds of institutions related to government and semi-government institutions.

This withholding tax is applicable with effect from January 1, 2023 to March 31, 2023.

source-daily mirror