Another blow for senior citizens dependent on interest income

[Future123Active Member]

"The action to catch senior citizens in the withholding tax net shows the government’s inhuman and stubborn attitude of trying to ‘earn money killing even the dogs’, they said."

Full article:
http://www.sundaytimes.lk/161204/business-times/another-blow-for-senior-citizens-dependent-on-interest-income-218716.html

[First Guy]

I saw this and thought who wrote this? Are these group of senior citizens who have more than 1.5 mil interest income per year? Upto 1.5 mil it is exempt, isn't it?

[smallvilleTop contributor]

Below says, as per the 2016 budget, senior citizens shud be getting 15% for the first 1.5 million they deposit on FDs but only 1 million facilitated up to now. This was questioned from the FM at a Hiru TV program and it was evident dat the FM was not even aware of the scene. So as tis has come to light I think FM shud now make necessary arrangements to facilitate it as his glory at risk now

http://www.sundaytimes.lk/161204/business-times/no-interest-in-senior-citizens-deposit-interest-issue-218672.html