Resultant of new tax; prices of bakery products could go up: Assn.

Prices of bakery products may go up again after the Social Security Contribution Tax comes to force today, the All Ceylon Bakery Owners' Association (ACBOA) said.

N.K. Jayawardena, Head of the Association, told the Daily Mirror that their products including bread, will be subject to the new tax.

The tax will be imposed on wheat flour, and if the main wheat flour importers increase their prices, it will automatically affect the bakery industry.

He said the prices of bakery products would rise as a result of all of the aforementioned factors, but they had not decided on the price at which rate they would increase. (Chaturanga Samarawickrama)