Bakery owners viewing tax increase with distaste; threaten price hike

Bakery owners viewing tax increase with distaste; threaten price hike

Bakery owners viewing tax increase with distaste; threaten price hike

Written by Staff Writer

06 Dec, 2015 | 10:10 pm

The All Island Bakery Owners Association, convened a media briefing on Sunday.

President of All Island Bakery Owners’ Association N.K. Jayawardena said that they had to pay a Nation Building Tax of two percent and it has been increased to four percent through the budget.

He also said that the bakery owners were granted a quarterly concession of Rs.25 million  if they were selling their own products in their own showrooms.

N.K. Jayawardane noted that this concession has been reduced to three million rupees. He warned that they will thus have to certainly increase the prices of all products, including bread, in the future.

Speaking further he also said that they have informed the Finance Minister in writing, but that they have not received a response.

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