Lankapage Logo CP 17 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka reduces import taxes on rice as prices escalate
Fri, Jan 6, 2017, 11:05 pm SL Time, ColomboPage News Desk, Sri Lanka.

Jan 06, Colombo: The Sri Lankan government has decided to exempt the taxes on imported rice with immediate effect to arrest the escalation of prices in the domestic market.

The Ministry of Finance said the measure was taken to prevent the general public from facing difficulties due to the increase in prices of rice.

Accordingly, the government has decided to completely remove the 50 rupee import levy, the Value Added Tax of 15 percent, the 7.5 percent customs duty and the 2 percent Nation Building Tax on rice.

The Finance Ministry said the government will follow a special commodity levy of 15 rupees in place of the previous tax imposed on imported rice.

The concession will apply for the imports of Samba, Naadu and Red rice. The tax concession will not apply for the imports of Basmati rice.

The government recently instructed the Cooperatives Wholesale Establishment (CWE) under Ministry of Industry and Commerce to buy 20,000 metric tons of paddy (both White rice and Nadu) from the Paddy Marketing Board immediately and release the paddy to millers. The government also has decided to import 10,000 Metric tons of rice.

 


ColomboPage - Recent 10 Stories ::
Sri Lanka's new Foreign Minister plans to streamline overseas missions
-- [8 minutes ago]
Government to gazette terms and conditions for SAITM, halts further enrollment and degree awarding
Sri Lanka Navy nabs two persons with 135 kg of Kerala Cannabis
Tamil Nadu fishermen increase poaching in Sri Lankan waters, Navy arrests 39 fishermen in last three days
Peace Winds Japan teams up with local partner to provide emergency relief items for Sri Lanka flood victims
Amnesty International calls on Sri Lanka for immediate implementation of Office on Missing Persons
CSE announces revision of share transaction fee structure from Tuesday
Sri Lanka launches another Dengue eradication program as disease spreads
Sri Lanka's ornamental fish sector wins international accolades
Sri Lanka state doctors end strike amid heavy protest from public

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.