The prices of several goods are due to increase in line with the tax revisions brought about through the 2014 budget.
While some revisions come into effect immediately, others will take effect on January 1. With the revision of the special commodity levy imposed on imported items the prices of sugar, sprats, canned fish, green gram, Maldive fish and dry fish will be revised.
The revision of the special commodity levy will also affect goods such as salt, yoghurt, butter, margarine, cashew and certain spices. Meanwhile, the CESS tax imposed on several goods has been revised to promote local value addition.
Thereby, the prices of vegetables, fruits, cheese and dairy products, sausages and meat products, chocolate, ice cream and mosquito coils will be revised. The CESS tax on paints, candles, joss sticks, batteries, cement, soap, furniture, rubber machines and rubber products have also been revised through the 2014 budget.