Sri Lanka tax breaks for suppliers of relief food
ECONOMYNEXT – Sri Lanka will give tax concessions for suppliers and traders who join a program to provide a ‘relief pack’ of essential commodities to reduce living costs, especially for victims of floods and drought, a government spokesman said.
Prices of food have been pushed up by supply disruptions caused by successive bouts of floods and drought in recent years, Health Minister Rajitha Senaratna said.
The Cabinet of ministers this week approved a proposal by Prime Minister Ranil Wickremesinghe to reduce the cost of living and provide reliefs to victims of floods and droughts, he told a news conference.
According to the proposal the government will implement a programme to distribute a relief pack which includes rice, dhal, sugar, sprats, onion, potatoes, and canned fish through supermarkets, the Sathosa state retail chain and other shops.
The government will reimburse 50% of income tax and provide relief on electricity charges for institutions and traders that participate in this programme.
The government will also set up a ‘family budget unit’ to review provision of essential goods to an affordable price.
(COLOMBO, December 21, 2017)