Sri Lanka imposes taxes on import of Mackerel fish

Jan 28, 2016 (LBO) – Sri Lanka will impose taxes for importing of tinned mackerel fish under a proposal brought to cabinet by Fisheries Minister Mahinda Amaraweera.

In 2013 taxes on imported canned fish was increased to 100 rupees per kilogram to encourage the local production and it was reduced to 50 rupees as a concession to customers in 2015. This tax will go back up to 100 rupees.

About 20,000MT of canned fish is imported annually for domestic needs. After encouraging local production of canned fish, which produced savings of foreign exchange of 5 billion rupees, four local factories engaged in canned fish production since 2012. This provided employment to about 150 people, a cabinet paper said.

A can of 425 gram fish should include 280g of fish excluding liquid and be sold at a maximum price of 140 rupees, and a can of 155 gram fish should include 105 grams of fish excluding liquid and be sold at a maximum price of 70 rupees.

However the cabinet had been told that after taxes on a kilogram of imported mackerel was cut from 100 rupees to 50 rupees, imports have gone up from 20,000 kilograms to 40,000 kilograms, with more local consumption.

The cabinet paper also said to grant the concessionary levy on importation of Mackerel only to local canned fish producers, and only for those who produce them complying with given standards.