TUESDAY, 22 APRIL 2014 07:26
Apr 20, Colombo: Sri Lankan government plans to increase the import taxes on a number of items from next month to enhance the state income, a local media report said.
The increase in levies is to be implemented from May this year on several top selling items including motor cars, mobile phones and construction industry items such as steel rods and cement.
The decision to raise import levies had been taken at a recent discussion held in the Ministry of Finance with the participation of the senior officials of the Treasury and Central Bank, the Mawbima Sinhala newspaper said.
The officials have pointed out at the discussion that the government decision to decrease the import taxes of the items like motor cars resulted in the decline of state income as a percentage of the gross domestic product.