Tax on imported rice slashed

Tax on imported rice slashed

Tax on imported rice slashed

Written by Tharushan Fernando

06 Jan, 2017 | 5:50 pm

The Rs.80 tax that was imposed on Imported Rice will be reduced to Rs.15 with effect from midnight today.

The Ministry of Finance announced this decision at a meeting held today.

At Present Customs Duty, VAT as well as NBT were imposed on a Kilogram of Rice which resulted in a Rs.80 tax on a kilogram of rice.

With the new decision reached all existing taxes will be removed and a Special Commodity Levy of Rs.15  will be imposed on imported rice with effect from midnight today.

The Ministry of Finance says that any businessman in the private sector has the opportunity to import rice.

The Ministry notes that now, imported rice could be sold to the consumer for less than Rs.76 a kilogram.

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