Sri Lanka hikes tax on fish imports
ECONOMYNEXT – Sri Lanka has hiked a tax on imported fish to 150 rupees a kilogram from 100 rupees or 10 percent of the value, the finance ministry said.
The tax has been hiked to ‘help domestic fishermen,’ the finance ministry said.
Sri Lanka has high import duties on many industries including agriculture, which has led to of inefficient production processes which are not export competitive.
Sri Lanka is facing revenue shortfall in 2020, after value added tax was suddenly cut.
Since many people do not have refrigerators, imported tinned fish is a popular food among the less affluent and construction workers. (Colombo/Mar03/2020)