News

Finance Ministry denies increase of special tax on nine food items

10 September 2015 - 46   - 0

The Ministry of Finance today said that special commodity levy has been increased on potatoes and sugar only, Government Information Department said. An official of the Finance Ministry denied the media reports that special commodity levy has been increased on nine food items. Further clarifying the situation the official said that this special commodity levy is imposed in lieu of the import taxes such as duty, VAT, PAL NBT etc. in order to maintain a stable price with the aim of protecting producers as well as the consumers. The special commodity levy on several food items is being imposed via special gazette extending it periodically. Accordingly this gazette notification imposing special commodity tax on several food items was issued on the instructions of the Finance Minister Ravi Karunanayake on Tuesday. Under this new gazette the special commodity levy on imported sugar has been increased by Rs.12 per Kilo and Potato by Rs,10 per kilo. Special Commoidty Levy on all other items inclusive of Dhal, Onion, green peas, chickpeas, cow peas, Kurakkan, Margarine etc. remain unchanged, said the official. if the special gazzet notification had not been issued by the Finance ministry, all food items mentioned in that gazette will be subject to normal import duty and other taxes inclusive of VAT, PAL and NBT effecting a price escallation.

  Comments - 0

  • Leave a comment



Top Stories

Sunlight brand to bring communities together

A well-known and long-standing corporate entity in Sri Lanka is to wage  a gentle battle to eliminate the fear, hatred and distrust that pr...

16 October 2019 - Views : 2

55 countries to attend SL Navy's 'Galle Dialogue' conference

16 October 2019

19-year old nabbed with live hand grenade

16 October 2019

Cannabis cultivation at Yala Forest Reserve destroyed

16 October 2019

Features & Analysis

English Lit Societies of Ladies and STC present LitCon

The English Literary Societies of Ladies' College and S.Thomas' College Mt.Lavinia proudly present LitCon ...

Dog Walk and Carnival by Rotaract Club of Colombo Central

In keeping with the aims of Community Service in Rotaract, the Rotaract Club of Colombo Central has organized a &ldqu...

In Pictures: Pro World Surf League

The So Sri Lanka Pro World Surf League (WSL) Qualifying Series (QS) 3000 event which concluded recently played host t...

Lal Wickrematunge bids adieu

Australia is an important ally of Sri Lanka and diplomatic relations between the two countries date back to 1947. Sri...