Taxes on several essential food items reduced ahead of budget

Nov 08, 2017 (LBO) – Sri Lanka’s Finance Minister Mangala Samaraweera said levies on several essential food items are to be reduced from midnight today to control the cost of living of the consumers.

Announcing this pre-budget benefit, minister told the media that majority of the consumers will benefit from this action, due to reduction of prices. He said this reduction will cost the government around 1,500 million rupees per month.

According to the announcement, the levy of following food commodities will reduce in following manner.

Item Prevailing Duty Rate New Duty Rate Duty Reduction
(Rs. Per kilo) (Rs. Per kilo) by (Rs. Per kilo)
Sprats 11 1 10
Potatoes 40 1 39
B’ onions 40 1 39
Lentils – whole 10 1 9
Lentils – Split 15 3 12
Dried fish 102 52 50
Palm oil/other veg. oil – crude 110 95 15
Palm olen 115 100 15
Palm stearin 110 95 15
Refine palm oil 135 110 25
Other veg. oil refine 130 105 25
Palm Kernal – crude 130 105 25
Refine 145 110 35
Coconut oil (Crude/ Refine) 130 105 25