Soft Options – Budget Report

Ishara S. Kodikara | AFP | Getty Images Sri Lanka Prime Minister Ranil Wickremesinghe, center, speaks to supporters at the prime minister's official residence in Colombo on December 16, 2018, after he was reappointed as prime minister by Sri Lanka's president, the same man who fired him from the job nearly two months ago.

The move is aimed at distilling Sri Lanka
quote s relatively high per capital intake of hard liquor.rn

rnThe previous government brought down soft liquor excise duties sharply to encourage the industry.rn

rnBut taxes were revised after several new factories were established leaving the new investors with a hangover.rn

rnThe finance ministry is also planning to legalize Kitul tree tapping after introducing a tax on the plant.rn

rnThe sap of the Kitul tree is used to make toddy, a type of soft liquor.rn

rnThe legalizing of Kitul tapping is expected to be provide new revenue generating avenues for rural areas.rn