National Tariff Policy Committee gets Cabinet approval

Wednesday, 19 March 2025 00:06 - - {{hitsCtrl.values.hits}}

In a significant step toward establishing a transparent and competitive tax system, the Cabinet of Ministers on Monday approved the appointment of a National Tariff Policy Committee.

“The newly approved National Tariff Policy Committee will be chaired by a Deputy Secretary of the General Treasury and will be responsible for overseeing the policy’s implementation and strategic direction,” Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said at the post-Cabinet meeting media briefing yesterday.

Previously, the Cabinet approved the introduction and implementation of a National Tariff Policy aimed at making Sri Lanka an attractive investment destination and encouraging a competitive market in the Asian region.

However, progress has stalled due to the absence of a designated committee and a defined role for it.

“The Finance, Planning and Economic Development Ministry has now prepared the terms of reference outlining the committee’s responsibilities and functions,” he said.

The proposal presented by President Anura Kumara Disanayake in his capacity as the Finance, Planning and Economic Development Minister was approved by the Cabinet of Ministers.

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