Potatoes and Onions offered on a vegetable market in Sri Lanka
Sri Lanka increases import duties on potatoes as local prices drop
Sri Lanka's Ministry of Finance has announced that the special commodity levy on imported big onions and potatoes had been increased with effect from midnight Wednesday, May 2nd.
Accordingly, the import tax for potato will be increased to Rs. 40 per kilo (USD 0.25) from Rs. 30 while the import tax for big onion will be increased to Rs. 40 from Rs. 1 per kilo.
The Finance Ministry says that this decision has been taken in response to the drop of the local prices for big onions and potatoes.
The tax increase is expected to control imports and increase the prices of local produce.
Accordingly, the import tax for potato will be increased to Rs. 40 per kilo (USD 0.25) from Rs. 30 while the import tax for big onion will be increased to Rs. 40 from Rs. 1 per kilo.
The Finance Ministry says that this decision has been taken in response to the drop of the local prices for big onions and potatoes.
The tax increase is expected to control imports and increase the prices of local produce.
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