Prices of several goods and services reduced

Prices of several goods and services reduced

Prices of several goods and services reduced

Written by Staff Writer

02 Nov, 2018 | 9:16 am

Colombo (News1st): The Ministry of Finance has brought down the prices of a number of goods and services with effect from midnight yesterday (November 01).

The changes are as follows;

  • Price of 92 Octane Petrol (per liter) has been reduced by Rs. 10 to Rs. 145
  • Price of Auto Diesel (per liter) has been reduced by Rs. 7 to Rs. 116
  • Lubricants including the 2T have been reduced by Rs. 10 per liter
  • The Telecommunication Levy of 25% has been reduced to 15%
  • The Special Commodity Levy on Dhal and Chickpeas reduced by Rs. 05 per Kg
  • The Special Commodity Leavy on Black Gram reduced by Rs. 25 per Kg
  • Customs Duty will also be waived on Wheat grain to Rs. 9 per Kg from the existing waiver of 6 rupees per Kg
  • The Special Commodity Levy on Sugar reduced by Rs. 10 per Kg
  • The income tax rate for professional services will be reduced from 24% to 14%
  • Withholding tax exempted on Interest on any savings and fixed deposits maintained in financial institutions
  • The VAT threshold to be increased from Rs. 12 million to Rs. 24 million per annum
  • To encourage local entrepreneurs, professionals and migrant workers to remit their earnings in foreign currency on services provided outside Sri Lanka, Income tax exempted on such remittances

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