Lanka to impose tax on rubber imports, exports
Reuters, Colombo
Sri Lanka will impose a tax on all raw rubber exports and rubber good imports from November to fund a 10-year expansion drive for an industry that has dwindled in recent years, a top Plantation Industries Ministry official said Friday.The new tax, called the rubber cess fund, will impose a 5 percent levy on the CIF (cost, insurance and freight) charge of all imported rubber goods and a 4 rupees per kg charge on all exports of raw rubber. "We are also talking to the industry about introducing another component (tax) on export of rubber goods but discussions are still going on," AB Leelasena, the ministry's planning director told Reuters. The government expects to raise 350 million rupees a year from the new tax.
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