COLOMBO (News1st) - Several new tax proposals were put forward through the budget 2019 to boost the government revenue. Mentioned below is a complete summary of the revised tax proposals:-
The manufacturing tax on motor vehicles and the import tax on luxury vehicles are to be increased with effect from midnight today (March 05). The revisions will have a little impact on small engine motor vehicles. The marginal deposit requirement of 200% imposed on vehicle imports has been removed through the new budget.
The manufacturing tax on cigarettes is be increased from midnight today (March 05) while a Nation Building Tax (NBT) will also be imposed on cigarette manufacturing from the 1st of June.
The excise duty imposed on locally manufactured alcohol is due to increase from midnight today (March 05).
The cess on the import of beedi leaves is to be increased from Rs. 2500 per kilogram to Rs. 3500 per kilogram with effect from midnight today (March 05).
An embarkation tax of US$ 10 will be charged from April 1st at both airports and ports.
A 3.5% Nation Building Tax (NBT) will be imposed each time a credit card or debit card is used for overseas payments, in place of the current stamp duty. This proposal is to come into effect from June 1st.
Passport fees have also been revised. The fee for making changes to an existing passport has been increased from Rs. 500 to Rs. 1000 from June 1st. The fee to obtain a new passport has been increased from Rs. 3000 to Rs. 3500. The one day service has also been increased by Rs. 5000.
The fee imposed on obtaining special number plates from the Department of Motor Traffic has also been increased. A fee of Rs. 1 million will be charged when obtaining a customised number plate.
The tax on garments manufactured by Board of Investment approved companies will be increased from the 1st of June.
The expressway toll during peak hours will be increased by Rs. 100 rupees from April 1st.
The annual license fee on casinos will be increased from Rs. 200 million to 400 million while an annual license fee of Rs. 1 million is to be imposed on bookmakers. An entrance fee of US$ 50 will be charged at casinos from June 1st.
The customs import duty imposed on selected products including fruit drinks, alcohol, and tobacco, will also be revised with effect from midnight today (March 05).
.webp){kind=logo}
.png )
.png)
-734264-752536_550x300.jpg)
.gif)