Cabinet nod to repeal draconian Excise Ordinance with new Bill

Wednesday, 15 February 2023 01:47 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers approved the formation of a new Excise Bill to replace the country’s draconian Excise Ordinance at its meeting on Monday.

The Excise Ordinance was put into effect in 1912 to control the use of alcohol, tobacco, and related companies, issue suitable permits, and impose taxes. Thereafter, measures have been taken to amend the relevant ordinance to suit modern needs.

Through the interim Budget 2022, a proposal to develop a new Excise Bill was made and now that the Cabinet has given its approval, the legal draughtsman has been instructed to start preparing the new Bill.

The proposal to this effect was submitted by President Ranil Wickremesinghe as the Finance, Economic Stabilisation and National Policy Minister.