Fri, 29 Mar 2024 Today's Paper

Lion Brewery permitted to import beer without import taxes- FM

4 October 2016 08:05 am - 14     - {{hitsCtrl.values.hits}}

A A A

The Finance Ministry yesterday said that Lion Brewery Ltd in Biyagama has been permitted to import beer for a period of three months and imposed taxes and other levies equal to that of locally manufactured beer at the point of importation instead of import taxes and other levies.

The Ministry sent the following clarification on the news item which Daily Mirror carried on October 3, 2016 under the title “Monks up in Arms against import tax concession on beer’.

This beer manufacturing company in the country which was fully affected by the recent flood has been provided the opportunity to import beer with taxes and other levies applicable to that of locally produced beer.

The manufacturing plant and machinery of M/s Lion Brewery Company at Biyagama was completely damaged due to the recent flood in the area. This company which pays excise and other levies of over Rs.25 billion annually to the government had made a request to the treasury for a tax concession for up to a period of three months.

This company was manufacturing beer locally which was subject to an excise duty of Rs.190 per liter for alcohol volume less than 5 per cent and Rs.315 per litre for alcohol volume more than 5 per cent.

Since their manufacturing plant was fully destroyed they were unable to manufacture beer locally and they could not afford to import and sell the goods at the current market price given the fact that the import duties alone exceed the market price. The company had made a request for a waiver on excise duty and other levies to import consignment required for a period of three months. As of now the all inclusive levies for import of Beer exceeds Rs.700 per liter in addition to CIF cost of Rs.100 per litre. Accordingly, the import cost will exceed the market price compelling the company to give up the production.

Therefore considering all these facets the government in order to match the market price, permitted the company to import beer, required for a period of three months and impose taxes and other levies equal to that of locally manufactured beer at the point of importation instead of import taxes and other levies.

 

Video by Amantha


Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

  Comments - 14

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka
  • Jude Tuesday, 04 October 2016 09:19 AM

    It's a Fair Deal !!!!

    Hitapangmachan Tuesday, 04 October 2016 09:24 AM

    wonder if the world via DM iOS App

    lkboy Tuesday, 04 October 2016 09:29 AM

    concessions for beer company, but not for people.

    Roman Tuesday, 04 October 2016 09:33 AM

    Is there a Lion in you????

    Premalal Tuesday, 04 October 2016 12:54 PM

    Lion brewery will make a massive insurance claim for the damage suffered.

    Harith Tuesday, 04 October 2016 01:03 PM

    Why not claim the losses from the insurer?

    kk Tuesday, 04 October 2016 01:21 PM

    treatment at hospital my tax via DM Android App

    Shelly. Tuesday, 04 October 2016 01:45 PM

    I consume 01 bottle beer a day. And I want it at less than Rs. 150-.I am o. k. with 03% alcohol. Mr. F. M. could you consider my thirsty request. Due to high price and non availability of beer I take 02 shots of arishta daily. via DM Android App

    Tony Tuesday, 04 October 2016 01:58 PM

    Lkboy do u pay 25 billion tax anualy or u do not pay a cent so keep silent my boy

    annonymus Tuesday, 04 October 2016 02:51 PM

    No Beer due to flood.Main reason for recent Kelani Flood was big barrier built by water board across the river at Ambatala. Govt should pay compensation for others too.

    ET Tuesday, 04 October 2016 04:25 PM

    Do you have the aurhority to give this consessiom without cabinet and parliament approval? Ravi after 2 years still u are L board. Cmon someone take him to court.

    Fred Tuesday, 04 October 2016 07:05 PM

    The FM's decision to give a helping hand to the breweryShould be appreciated.

    stardust Tuesday, 04 October 2016 08:23 PM

    It would be interesting to know who are the owners of Lion Brewery ?

    Hacha Wednesday, 05 October 2016 02:03 AM

    Rather than protesting against the tax reduction, the so-called monks should get the people out of consuming liquor. All they want by protesting is to topple the government and bring back the previous crooks.


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment





Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

VAT increase: SOUNDs death knell for publishers, readers

Though the Government imposed VAT (Value Added Tax) on vegetables and other e

How female change-makers are driving Sri Lanka’s energy saving platform

Saving energy has become more of a responsibility than a habit in today’s c

A dull Ramadan awaits Muslims amidst the Soaring Cost of Living

In the coming days, Muslims across the world will welcome the Holy Month of R

New wildlife underpass to curtail HEC

As of February 2024, Sri Lanka lost another 38 elephants as a result of the H

MIRROR CRICKET

More