Government Implements Tax Increases on Select Imported Goods

The government has announced a temporary increase in taxes on certain imported goods, effective from October 14 to December 31, 2024. This decision is part of a directive from President Anura Kumara Dissanayake, who also holds the position of Minister of Finance.

Key Highlights:

• Special Merchandise Tax: A new tax of 25 cents per kilogram will be applied to whole and flaked Mysore lentils, as well as yellow lentils.
• Commodity Levy on Maldive Fish: A special commodity levy of Rs. 302 per kilogram will be imposed on maldive fish and its substitutes.
• Tax on Fresh or Frozen Fish: Fresh or frozen fish will incur a tax of 10% or Rs. 400 per kilogram, whichever is higher, excluding de-boned and other processed fish.

In summary, these tax adjustments aim to regulate the import of specific goods while potentially impacting prices for consumers and businesses in the affected sectors.

Updates from Sri Lankan Government

Last modified: October 19, 2024