BIZ

CESS tax on multiple items amended

Published

1 year ago

November 16, 2022

editor

The rate of CESS levy imposed on a total of 637 items under 187 HS codes has been amended with effect from yesterday (Nov. 15)

In his capacity as the Minister of Investment Promotion, President Ranil Wickremesinghe has issued the relevant government notification on November 14, by virtue of the powers vested in him by Section 14 of Export Development Act No. 40 of 1979.

Thereby, the prices of imported items such as butter, dairy spreads, cheese, curd, onions, garlic, several vegetables and fruits, soap, wet wipes, cement, notebooks, exercise books, air conditioning machines, household or laundry washing machines, and ballpoint pens will be increased.

The Ministry of Finance, however, noted that the CESS rate revision will affect the prices of any imported essential items.

Related Topics:Featured lka SriLanka Tax

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BIZ

Operating hours of liquor stores, revised

Published

1 day ago

December 8, 2023

editor

The Excise Department has announced changes to the operating hours of liquor shops, effective from tomorrow (December 09).

According to the revised schedule, liquor shops will be open from 8:00 a.m. to 10:00 p.m.

The detailed list of times is as follows :

BIZ

Deadline extensions for SLT & Srilankan bids

Published

3 days ago

December 7, 2023

editor

The deadline to submit expressions of interest for Sri Lanka Telecom and SriLankan Airlines have been extended on investor requests, Director General of the State Enterprises Restructuring Unit, Suresh Shah said.

The date to express interest for Sri Lanka Telecom was extended to January 12, 2024, from December 18.

The date for SriLankan Airlines was extended to January 09, 2024 from December 05.

The government is selling majority stakes in the firm.

The SRU will issue requests for proposal documents to qualified investors who express interest.

Source – economynext.com

BIZ

Cinnamon prices drop in SL

Published

3 days ago

December 6, 2023

editor

Cinnamon prices have dropped in the Sri Lankan market, the Department of Agriculture states.

Alba cinnamon, which is the highest grade of Ceylon cinnamon available in the local market, is sold between Rs. 4,800 – Rs. 5,000 per kilo which is a drop of Rs. 500.

This will lead to serious economic issues for those at the grassroot level of the industry, whose livelihood is cinnamon cultivation.