The Fisheries Ministry has recommended that tax on imported fish products be doubled to keep local fish markets steady and minimise low-quality re-exports. The move came as Sri Lanka’s leading seafood exporters started to import fish from the Maldives and send it to the local market causing a significant reduction in prices. They also re- [...]

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Double the tax on imported fish: Ministry

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The Fisheries Ministry has recommended that tax on imported fish products be doubled to keep local fish markets steady and minimise low-quality re-exports.

The move came as Sri Lanka’s leading seafood exporters started to import fish from the Maldives and send it to the local market causing a significant reduction in prices. They also re- export the processed fish to European Union (EU) countries, the United States (US) and Japan.

Local fishermen alleged that though the exporters are buying large stocks of their fish, they are not paid a reasonable price. In addition they are also hit by the import of fish from the Maldives.

The ministry has recommended to the Treasury that the tax levy for the imported fish be raised from Rs. 50 a kilogram to Rs 100. It says this would protect the local fish markets and the livelihood of the fisher folk.

Fisheries Ministry Secretary W.M.M.R. Adhikari said the tax increase should apply to wet fish and frozen fish.

The EU fish market was now dominated by the Maldives after the EU slapped a ban on Sri Lankan fish exports some years ago due to Illegal, Unreported, and Unregulated (IUU) fishing practices. The ban was lifted in April this year after the new Government took significant steps to address those issues.

It was in this backdrop that local exporters started to import fish from the Maldives and sell at low prices in the local market while re-exporting it to EU with the tag of Sri Lanka.

Early this month, talks to resolve these issues were held between officials of the Seafood Exporters Association and the Ministry officials. Minister Mahinda Amaraweera requested the exporters to limit the imports from the Maldives. However the exporters claimed that only high quality fish was being bought from the local market because other varieties were not meeting the standards.

An association spokesperson said they were aware of a move to increase the tax from Rs. 50 to Rs. 75 — and not to Rs. 100.

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