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Tuesday November 30th, 2021
Economy

Sri Lanka taxes frozen mackerel at Rs6.00 a kilo, kurakkan Rs70

ECONOMYNEXT – Sri Lanka has issued a gazette notice taxing mackerel at 6.00 rupees a kilogram while taxing kurakkan at 70 rupee a kilogram.

Several types of mackerel is taxed at 6.00 rupees a kilogram.

Sri Lanka taxes tinned fish at high rates keeping prices above world levels and raw mackerel (fresh/frozen) at lower rates to channel the difference it taxes (tax arbitrage) to some domestic producers.

Black gram (HS code 0713.13.31) has been taxed at 300 rupees a kilogram.

Cowpea is taxed at 70 rupees a kilogram.

Kurrakkan and millet seed is taxed at 70 rupees from March. Sri Lanka has also fully controlled or raised taxes on a number of cereals pushing up prices for the entire population, to give high profits to the farming and land-owner lobby. (Colombo/Mar20/2021)

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