Govt. opens up wheat flour import market with lower tax

17 December 2019 10:07 am - 0     - {{hitsCtrl.values.hits}}


The government has removed the consolidated tax of Rs.36 per kg of imported wheat flour and replaced it with the Special Commodity Levy (SCL) of Rs.8 
per kg.

This SCL will come into effect from December 14, through a special gazette notification issued by Prime Minister Mahinda Rajapaksa as the Finance, Economy and Policy Development Minister.

Up to now, wheat grain has been imported and milled to meet the country’s requirement of wheat flour for consumption.

As per the decision taken by the Cabinet of Ministers last week, with the introduction of the SCL of Rs.8 per KG, the traders could now import wheat flour directly to sell at a competitive price in the local market.

Cabinet Co-Spokesperson Dr. Ramesh Pathirana said the reduced duty on wheat flour imports would remain for a limited period of time in order to ease the cost of living amid a hike in rice prices.

Sri Lanka has been maintaining higher duties on wheat flour imports and lower taxes on wheat grain imports. 

Sri Lanka’s wheat grain market is controlled by two multinational millers.

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