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Sri Lanka to remove 100 items from CESS tax: Budget2017

ECONOMYNEXT – Sri Lanka will remove 100 items from an import cess tax, Finance Minister Ravi Karunanayake said presenting a budget 2017.

He did not elaborate. But it may represent a substantial trade liberalization depending on the items involved, he said.

Sri Lanka has imposed sweeping cess taxes on imported items, which has restricted trade and has given large profits to domestic manufacturers with political clout.

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