The Ministry of Finance has announced changes that will affect the prices of fuel and LP gas from January next year.
At a special media briefing held in Colombo today (Dec. 28), Tax Policy Advisor of the Ministry of Finance Thanuja Perera said that fuel and gas will be exempted from the Port and Airport Levy (PAL) from Jan. 01.
Accordingly, the 7.5% PAL for fuel and 2.5% PAL for LP Gas will be removed when the 18% VAT increase comes to effect from Jan. 01, 2024.
Ms. Perera said that therefore the prices of Diesel and Petrol will not go up by 18% even after the 18% VAT increase.
